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Ksi Lisims LNG project bolstered by Tourmaline, Ovintiv

Three additional natural gas producers joined the Rockies LNG Partnership this year
Artist's rendering of the floating LNG terminal that would be built on land owned by the Nisga'a First Nation.

Canada’s largest natural gas producer – Tourmaline Oil (TSX:TOU) – is giving a vote of confidence to the Ksi Lisims LNG project north of Prince Rupert by throwing in with the Rockies LNG Partnership.

The Rockies LNG Partnership are industry partners in the Ksi Lisims LNG project, along with the Nisga’a First Nation and Houston-based Western LNG. The Rockies LNG Partnership is a coalition of nine Alberta natural gas producers.

Tourmaline is a major player in B.C. and Alberta. This week, while announcing its second quarter financials, Tourmaline announced it had joined the partnership.

“Tourmaline has joined Rockies LNG Partners and is excited to assist in moving the Ksi Lisims LNG project forward,” the company said in its second quarter release. “The company will continue to expand the size and breadth of its LNG business, both short and long term.”

Rockies LNG confirmed that Tourmaline and two other producers joined the partnership this year, including another large producer, Ovintiv (TSX,Nasdaq:OVV), and Crescent Point Energy (TSX,NYSE:CPG).

Together, the nine Rockies LNG Partnership members produce 5.6 billion cubic feet per day of natural gas, which is one-third of Canada’s natural gas production.

The Ksi Lisims project is still working its way through the BC Environmental Assessment Office review process.

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