There’s only a handful of innovative floating liquified natural gas (LNG) facilities in the world and a British Columbia First Nation is en route to build their own $10 billion project near Prince Rupert.
According to the Canadian Energy Centre, the Nisga’a Nation has reached the engineering stage of its proposed Ksi Lisims LNG plant in northern BC.
The floating projects promise quicker turnarounds and cheaper investments for countries like Canada, which is known to be plagued with cumbersome regulations.
Additionally, some of the benefits touted by proponents of the new technology is lower emission output due to the reduced need for onshore development and fewer required work camps.
“The project will be the heartbeat of our Nation’s economy,” said Nisga’a president Eva Clayton.
“It’s our best chance to build prosperity and a positive future for our people.”
The First Nation will be contracting Black & Veatch and Samsung Heavy Industries to design the engineering behind the innovative plant.
Upon completion, the plant will be able to conduct activities from liquefaction to offloading.
According to energy analyst Dulles Wang, there are currently only five floating LNG facilities currently operating around the world.
“The technology is becoming more mature as we see more floating LNG projects,” said Wang.
There’s hope that the project will be able to produce 12 million tonnes of LNG per year or up to 2.0 billion cubic feet each day.
Despite the high hopes, the project could face regulatory hurdles due to net zero policies implemented by the BC NDP government.
“The B.C. government has an emissions reduction target by 2030. How to implement the new Energy Action Framework for new LNG projects to reach net zero by 2030 could create regulatory uncertainty for the project,” explained Wang.
If it passes regulatory hurdles, the project could be completed and in operation as soon as 2027.
