Pieridae Energy Ltd. announced an engineering review of costs for its delayed proposal to launch liquefied natural gas (LNG) exports from Canada’s Atlantic coast by building a mammoth Nova Scotia terminal, Goldboro LNG.
The review, assigned by a Pieridae contract to Kellogg Brown & Root Ltd. (KBR), will examine changes to initial plans for a C$10 billion ($7.5 billion) project capable of exporting up to 1.4 Bcf/d.
Pieridae called its decision to hire of KBR “a major step forward,” and set a new target date for beginning construction for sometime in 2019. Pieridae discarded its previous goal of making a final investment decision at the end of 2018.
The delay unfolded as Pieridae closed on a merger with Calgary-based gas producer Ikkuma Resources Corp. and sought western supplies and pipeline service across Canada and the United States for the proposed LNG terminal.
Pieridae CEO Alfred Sorenson said Goldboro LNG “will create thousands of Canadian jobs and establish a solid global market for Canadian natural gas for years to come.”
Goldboro LNG received a boost last October when the Mi’kmaq community in Nova Scotia, Sipekne’katik First Nation, withdrew objections to the project with the province’s Utility and Review Board. That same month, Pieridae said it was eligible for a German loan of up to US$1.5 billion to cover the costs of gas supplies for the project.
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