Overview
- Ksi Lisims and Uniper signed a binding 20‑year offtake for up to 2 million tonnes per year of LNG from the planned Pearse Island floating terminal.
- Combined with confirmed 2 mtpa deals with Shell and TotalEnergies, the Uniper contract raises firm sales to about 6 mtpa, roughly half of the project’s 12 mtpa capacity.
- Developers say they aim to have about 75% of capacity contracted before a final investment decision but key hurdles remain including a feeder gas pipeline, firm financing and rising capital‑cost estimates.
- Uniper says it has no direct contracts with Russia and will take delivery free‑on‑board, making volumes destination‑flexible for deliveries to Europe or swaps to Asia as market needs dictate.
- Critics warn the project could lock in long‑term fossil fuel emissions and face delays if BC Hydro cannot supply the planned electrification power, while Ottawa frames the deal as boosting allied energy diversification for European buyers.