Energy company to develop Eastern Canadian LNG export facility
GOLDBORO, NS, Oct. 24, 2012 /PRNewswire/ – Pieridae Energy Canada (Pieridae), a
Canadian energy infrastructure development company, announced today,
Oct. 24, the development of a liquefied natural gas (LNG) export
facility in Goldboro, Nova Scotia, Canada.
Goldboro LNG (www.GoldboroLNG.com) 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 five million metric
tons of LNG per year and have on-site storage capacity of 420,000 cubic
metres of LNG.
“We have the experience, expertise, financial resources, and access to
supply and markets required for developing Eastern Canada’s first LNG
export facility,” said Alfred Sorensen, President, Pieridae Energy
Canada.
“Goldboro LNG will connect the expanding supply of natural gas in both
Canada and the United States with the increasing global demand,” said
Sorensen. “With our location and proximity to existing gas pipeline
infrastructure, Goldboro LNG is well positioned as the gateway to the
global markets for North American LNG.”
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 location of Goldboro LNG also provides substantial advantages for
transporting LNG to key markets.
“Goldboro provides an excellent location for exports and will be the
east coast of Canada and the United States’ closest mainland LNG export
terminal to Europe and India,” said Sorensen.
The project will create significant direct and indirect economic
benefits for the local community, province and region. It is
anticipated that at its peak Goldboro LNG will create up to 1,500 jobs
during construction and 100 full-time, permanent jobs during
operations.
Pieridae is in advanced negotiations with international energy utilities
for the natural gas processed at Goldboro LNG and expects to conclude
negotiations in 2013.
Pieridae also announced that it is negotiating with Contact Exploration
Inc. (Contact), a publicly-traded Canadian oil and gas company, the
final details of a participation and earning agreement (Proposed
Agreement) respecting Contact’s New Brunswick natural gas assets. The
Proposed Agreement further contemplates that Contact will exclusively
manage the operations and investment made by Pieridae in Goldboro LNG
with respect to the exploration and development of all potential
Canadian on-shore natural gas.
“Goldboro LNG is an exciting development for Canada and provides a great
opportunity for Eastern Canadian energy,” said Steve Harding, President
and CEO, Contact. “This project will promote resource development in
Atlantic Canada, which might otherwise be compromised due to the
prolific natural gas development in the northeastern United States.”
Contact has a long-term history of operating in Eastern Canada and has
recently demonstrated success in Alberta’s liquids-rich Montney
Formation tight gas play.
“A Goldboro LNG export terminal will greatly contribute to our
world-class oil and gas sector and position Nova Scotia as a strategic
energy exporter,” said Darrell Dexter, Premier of Nova Scotia. “This
investment in our province will mean more good jobs for Nova Scotians
and a boost to the economy throughout Atlantic Canada.”
Goldboro, NS is also the landfall for the Sable and Deep Panuke offshore
natural gas sub-sea pipelines and the Maritimes & Northeast Pipeline.
“The community of Goldboro and the Municipality of the District of
Guysborough have embraced and contributed to developing our region as
an energy hub. We are excited to work with Goldboro LNG to continue the
momentum, grow our economy and build upon the natural advantages of our
region,” said Lloyd Hines, Warden of the Municipality of the District
of Guysborough.
Barbara Pike, Executive Director of The Maritimes Energy Association,
said, “The Goldboro LNG export facility will be an important addition
to our region’s energy infrastructure. The project has the potential to
create opportunities for further development of Eastern Canada’s
natural gas resources and energy sector, which is evident in their
negotiations with Contact.”
Preliminary environmental, engineering and stakeholder engagement work
is underway and pending regulatory approvals, construction is expected
to begin in 2014 and Goldboro LNG will be operational in late 2018.
About Pieridae Energy Canada
Pieridae Energy Canada is a Canadian energy infrastructure development
company focused on liquefied natural gas (LNG) opportunities. The
company’s management team has extensive LNG experience and deep
connections to the LNG industry world-wide. Pieridae operates as the
project lead in the initial phases of development of a project.
SOURCE Pieridae Energy Canada
