Australian company Santos has signed an LNG supply agreement with South Korea’s POSCO Steel and a purchase agreement with Canada's Western LNG (Santos press release, 15/09/2026). According to the statement, Santos has finalized key commercial terms with POSCO Steel for the supply of LNG from its diversified global LNG portfolio under a delivered ex-ship (DES) arrangement. The agreement covers a 10-year period and is scheduled to commence in 2030 or 2031. At the same time, the company has signed a non-binding Heads of Agreement with Western LNG for the purchase of approximately 1 Mt/year of LNG from the proposed Ksi Lisims LNG project in Canada. The agreement has a term of up to 20 years and is expected to begin around 2031.
Ksi Lisims LNG is a proposed 12 Mt/year floating LNG export project in British Columbia, located on land owned by the Nisga’a Nation. The project is being developed by the Nisga’a Nation, Rockies LNG, and Western LNG. The project is intended to supply LNG primarily to Pacific Basin and Asian markets. It will use hydroelectricity to power its liquefaction operations, supporting a lower-emissions LNG production profile.
Ksi Lisims LNG has already secured several long-term offtake agreements with international LNG players:
- In June 2026, the German state-owned energy group SEFE Securing Energy for Europe signed a Heads of Agreement (HoA) under which SEFE will purchase 1 Mt/year of LNG on a free-on-board (FOB) basis. Deliveries are expected to start in the early 2030s and continue for up to 20 years (KEI, 01/06/2026).
- In July 2026, Germany’s Uniper entered into a long-term agreement to purchase 2 Mt/year of LNG from the project (KEI, 31/07/2026).
According to the company’s press release, the project has also secured agreements with other partners, including Shell (2 Mt/year), Uniper (2 Mt/year), SEFE (1 Mt/year) or TotalEnergies. It received its British Columbia Environmental Assessment Certificate in 2025 and concluded additional agreements with First Nations communities in 2026. The Canadian government also approved a fast-tracking procedure for the project in November 2025 (KEI, 18/11/2025).
Canada continues to reinforce its position in the global LNG sector, supported by a growing pipeline of projects under development and a series of commercial agreements concluded since the beginning of the year.