A $7.3 billion liquefied natural gas export facility in British Columbia is set to supply Germany with energy, marking a significant partnership between the two nations.
The Ksi Lisims project has already received regulatory approval and will be shipped from Canada's coast to Europe.
This deal comes as European countries seek alternative suppliers due to disruptions in Russian and Middle Eastern gas flows.
Canada's minister of energy and natural resources, Tim Hodgson, is expected to announce the agreement on Wednesday.
The buyer, Germany's SEFE, was previously a Gazprom unit nationalized by the German government after the Ukraine invasion.
Blackstone Inc.-funded Western LNG and Rockies LNG Partners are backing the project alongside the Nisga'a Nation.
The facility will produce 12 million metric tons of LNG annually, comparable to the first phase of LNG Canada.
Construction has not yet begun due to a lack of final investment decision.
Hodgson emphasized the need for European nations to diversify their energy sources and avoid reliance on American gas.
This partnership highlights the importance of international cooperation in addressing global energy security concerns.
