First Nations in British Columbia and their partners propose a new $10 billion LNG megaproject.

A First Nation in British Columbia is proposing a new liquefied natural gas (LNG) export facility on treaty land, along with an environmental commitment to reach net-zero emissions within three years of operation. The Nisga'a Nation, whose territory lies north of Prince Rupert near the Alaska border, is collaborating with Rockies LNG Partners, a consortium of Western Canadian natural gas producers, and Western LNG, a Texas-based energy firm.

The project, known as Ksi Lisims LNG, would feature a pipeline that would transport natural gas from the province's northeast portion to the coast. The facility is expected to cost $10 billion. The cooled natural gas would then be put onto ships and shipped to Asia.

The project's proponents plan to announce the proposal on Monday, after which they will apply for the appropriate government licenses and begin official discussions with the region's communities. As part of a combined regulatory evaluation by the federal, provincial, and Nisga'a governments, the project will be subjected to an environmental assessment.

The Nisga'a and the governments of Canada and British Columbia signed a treaty in 2000 that handed the Nisga'a control over approximately 2,000 square kilometers of territory in B.C.'s northwest Nass Valley.

In a statement, Nisga'a Nation President Eva Clayton stated, "Attracting an economic foundation to our treaty grounds in the Nass Valley has long been a priority for the Nisga'a Nation."

The project comes at a time when several other LNG plans for the coast of British Columbia have been delayed or canceled.

Asian LNG prices are at multi-year highs as worldwide demand for natural gas remains strong in order to satisfy several nations' power generating demands this summer.