Offtake is not steel in the ground
The same September 14-15 Ksi Lisims paper that added Santos also leaves the transportation file open. Natural Resources Canada describes a proposed floating liquefaction plant and marine terminal on B.C.'s north coast, sized at up to 12 million tonnes a year. Santos said the plant would sit on land owned by the Nisga'a Nation and take Western Canadian Montney gas. Western LNG's Thames said the project is in the final stages of commercialization, not in construction.
Prince Rupert Gas Transmission is the line that has been publicly attached to that coast. This week's company and federal notes do not give a new in-service date, a new capital number for the pipe alone, or a construction start. The $30 billion figure in the federal release is for the project, not a standalone pipe sanction.
This is not Line 5 and it is not Coastal GasLink Phase 2. Those files already have company paper this month. Until Ksi Lisims or the pipe sponsors post a construction or FID note, the Santos HOA is a cargo term sheet sitting in front of a corridor that has not been built.