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by Stockwatch Business Reporter

West Texas Intermediate crude for June delivery lost 13 cents to $62.56 on the New York Merc, while Brent for July lost 16 cents to $65.38 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.80 to WTI, up from a discount of $13.70. Natural gas for June added 31 cents to $3.42. The TSX energy index lost 1.60 points to close at 257.72.

Western Canadian gas producers let out a tentative cheer as a B.C. liquefied natural gas (LNG) proposal took an unsteady step forward. Ksi Lisims (pronounced s'lisims), which is developing an eponymous LNG export facility on Pearse Island, has signed a long-term off-take agreement with France's TotalEnergies for two million tonnes a year, equal to one-sixth of the project's capacity of 12 million tonnes a year. This is the second off-take agreement for Ksi Lisims, which previously signed up Shell as a two-million-tonne-a-year customer in 2023. All three of the project's proponents -- Western LNG, the Nisga'a Nation and Rockies LNG Partners -- cheered the "significant momentum" as they "move steadily toward FID [a final investment decision] later this year."

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