Canada and Germany conclude an agreement regarding the export of liquefied natural gas

Canada has signed an agreement for the export of liquefied natural gas to Germany, through the SEFE group, at the KSI Lisims terminal in British Columbia. The agreement provides for exports of up to 1 million metric tons per year.

Prime Minister Mark Carney stated that the goal is to double trade with countries outside the US in the next decade. The Premier of British Columbia, David Eby, emphasized the importance of this agreement for advancing the KSI Lisims project, which requires an investment of 10 billion dollars. Although the terminal has the necessary permits, the final investment decision has not yet been made.

SEFE, the former subsidiary of Gazprom, was nationalized in 2022, in the context of the energy crisis in Europe caused by the war in Ukraine. Germany, which relied on Russian gas, is now seeking alternatives to secure its energy supply.