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February 2020 – THE RACE TO LNG EXPORTS PART III: (The East Coast Hustle)

Each month we will focus on projects that will help create more jobs, more profit, and more economic and social opportunities for Alberta and the rest of Canada.

FOCUS: THE RACE TO LNG EXPORTS PART III: (The East Coast Hustle)

On the other side of the country, Canadian East Coast LNG plans are progressing steadily as well.

The US $10 billion  Goldboro LNG Project will include a natural gas liquefaction plant and facilities for the storage and export of LNG, including a marine jetty for loading. The facility is anticipated to produce approximately ten million metric tonnes of LNG per year and has an on-site storage capacity of 690,000 cubic meters of LNG, for product delivery to Europe. The facility is located adjacent to the Maritimes & Northeast Pipeline, a 1,400-kilometre transmission pipeline system built to transport natural gas between developments in Nova Scotia, Atlantic Canada, and the northeastern United States.

The lead on this project is Pieridae Energy, formed in 2011, and currently the only independent, publicly-traded LNG company. To date, many of the key regulatory permits have been secured, there is a signed acknowledgment agreement with the Nova Scotia Mi’kmaq Bands and there is a 20-year agreement in place with the German utility provider Uniper to buy all of the produced gas from the first train of the Goldboro project.

The CEO of Pieridae Energy, Alfred Sorensen, recently set down with the Federal Natural Resources Minister, Hon. Seamus O’Regan, in order to reiterate some of the key benefits of the project.

“We stressed to Minister O’Regan that Goldboro will help the Government of Canada meet three key goals: support reconciliation as we look to partner with First Nations, address global GHG emissions by using cleaner-burning LNG to replace coal, and get our resources to market along with creating good-paying middle-class jobs,”

The final investment decision on the project is expected to be reached at some point in 2020.

Some of the other projects in the mix are mapped out below:

Join us next month for The Race to LNG Exports: Part IV: The Unchartered Territory

Steve Dimic

Mortgage Associate

If you have any additional inquiries regarding any of the topics or if you have ideas for future topics, please feel free to email me at stevedimik@hotmail.com.

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