Energy
Japan’s Itochu in Talks to Buy LNG From Canadian Project
- Trading house seeks long-term fuel supply for Asian market
- Project has signed Shell as first customer, looking for more
An LNG facility in Kitimat, British Columbia, Canada.
Photographer: Jennifer Gauthier/BloombergJapanese trading house Itochu Corp. is in talks for a long-term contract to buy liquefied natural gas from the proposed Ksi Lisims project on Canada’s northwest coast, part of a wider push by Asian importers to secure fuel.
The deal, which could span decades, would be the second for the project, according to people familiar with the matter who asked not to be named because they’re not authorized to talk to the media. Shell Plc signed a long-term contract in January to buy LNG from the floating export facility for 20 years. The project would export 12 million metric tons a year.