Germans want to buy LNG, but Canadians might end up paying
The Ksi Lisims LNG project in British Columbia is facing significant financial and legal hurdles as it seeks to attract private investment. Despite the geopolitical instability increasing demand for LNG, the project has not secured the necessary funding and is at risk of becoming a government-backed initiative. The potential for Canadian taxpayers to bear the financial burden of this American-owned project raises concerns about the long-term viability and profitability of such investments.
- ▪The Ksi Lisims LNG project is estimated to cost $26 billion, nearly three times the initial estimate.
- ▪The project has not yet attracted the billions in private investment needed, raising the likelihood of government intervention.
- ▪Ksi Lisims LNG faces legal challenges from Indigenous Nations and is proposed as a floating asset that could be relocated.
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Open this photo in gallery:B.C. Premier David Eby, Nisga'a Nation President Eva Clayton and Nisga'a CEO Andrew Robinson at a September announcement about the Ksi Lisims LNG project.ETHAN CAIRNS/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountAnil (Andy) Hira is a political economist and professor at Simon Fraser University and the Director of the Clean Energy Research Group.The geopolitical instability from the war in Iran is creating what may be the largest oil and gas supply disruption on record.
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