HALIFAX— Pieridae Energy Ltd. has cleared a key regulatory obstacle in its effort to build a liquefied natural gas project in Goldboro, Nova Scotia. The company has announced it has been issued long-term licenses by the National Energy Board of Canada to import natural gas from the U.S. and to export liquefied natural gas from Canada.
The company said the licenses were issued with terms and conditions Aug. 13. The 20-year export license allows for a maximum export capacity of 16.675 billion cubic metres of LNG, while the 20-year import license allows for an import volume of 11.845 million cubic metres of natural gas.
“We’re happy to have achieved another significant milestone for the Goldboro LNG development. We will continue to work with the National Energy Board and project regulators as we advance this project” Alfred Sorensen, president and CEO of Pieridae, said. “We’re also on track to complete our supply acquisition this year, and each step brings us closer to our final investment decision.”
The company’s proposed Goldboro LNG facility would import natural gas from the U.S. – as well as Canadian sources – and process it into LNG for export to Europe and other countries. If built, the facility would consists of a natural gas liquefaction plant as well as facilities for the storage and export of LNG, including a marine jetty for loading. Pieridae notes the proposed facility’s east coast location with access to key supply and demand markets as key advantages.
Earlier this year, Pieridae received authorization from the U.S. Department of Energy to export natural gas to Canada for end use in Canada and for further export to countries with which the USA has free trade agreements for trade in natural gas. Pieridae also has a 20-year sales agreement with European-based E.ON Global Commodities SE, a subsidiary of one of the world’s largest power and gas companies, to deliver approximately five million metric tons per year of LNG produced from the proposed Goldboro LNG facility.
Pieridae began the consultation process for the LNG plant in 2012 and plans to make a final investment decision on project in 2016.