It was recently revealed that TotalEnergies SE (NYSE:TTE) has signed an agreement with Ksi Lisims to purchase LNG. Let’s shed some light on the development.
TotalEnergies SE (NYSE:TTE) announced on May 19, 2025, that it has signed a deal with Ksi Lisims LNG for the purchase of 2 million tons per year of LNG for 20 years from the latter’s planned export project in Canada, subject to the final investment decision of the project. Moreover, the French energy giant will also acquire a 5% stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. The agreement will grant TotalEnergies the option to increase its stake in Western LNG and/or to take a direct stake in the plant up to approximately 10% when the final investment decision is made. The Ksi Lisims LNG project, with a capacity of 12 million tons per year, is of strategic importance to Total since its Pacific coast location grants it privileged access to Asia, the largest LNG market in the world.
Stéphane Michel, President of Gas, Renewables, & Power at TotalEnergies SE (NYSE:TTE), stated:
“This purchase of LNG from the future Ksi Lisims LNG plant will allow us to diversify our LNG portfolio in North America and benefit from competitive LNG supply in Western Canada to better serve our Asian customers, with whom we are developing a significant portfolio of long-term supply contracts. As part of our integrated strategy, we are also pleased to partner with Western LNG to support the development of this very low CO2 emission liquefaction plant project”
TotalEnergies SE (NYSE:TTE) is the third-largest LNG player in the world with a global portfolio of 40 Mt/y in 2024, thanks to its interests in liquefaction plants in all geographies. Despite a net adjusted profit and revenue decline in the first quarter of 2025, the company’s LNG business performed well, with adjusted net operating income rising by 6% YoY to $1.3 billion. Already the top exporter of American LNG, the French energy major is planning to expand its portfolio even further, most recently via a 20-year contract signed last month with NextDecade.
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