Pieridae signs new customer for Goldboro LNG

By Helen Murphy    
May 16 2018

GUYSBOROUGH – Pieridae Energy Limited has signed on another European customer for the purchase of LNG from "Train 2" of its planned Goldboro liquefaction plant.

The unnamed customer will purchase up to one million tonnes per year of LNG, the company said in a statement last week. This contract is scheduled to begin with the start of commercial deliveries, currently estimated to be the first quarter of 2023, and last for a 10-year period.

“After having contracted the entire output from Train 1 with Uniper, this agreement moves Pieridae another step closer to the final investment decision on Train 2, which would bring much-needed jobs and other economic benefits to Nova Scotia and Canada,” said Alfred Sorensen CEO for Pieridae Energy, in a statement.

“We are seeing a growing interest from utilities in Europe and beyond, for reliable and stable LNG offtakes, that can contribute to increase security of supply as well as diversify price and volume risk in their portfolios,” said Riccardo Bortolotti, Managing Director of Business Development for Pieridae in London.

Pieridae Energy recently applied to the Nova Scotia Utilities and Review Board for a permit to construct the $10 billion (US) Goldboro LNG project. As a result, the UARB hosted a brief public information session in Goldboro on May 14. With more than 100 people in attendance, UARB representatives outlines the role of the board in this process.

Pieridae's final investment decision (FID) for Goldboro LNG is expected by the end of June, Mark Brown, Pieridae's director, project development, told The Journal last month that this could be a "soft FID", with a "definitive FID" in early-to-mid 2019.

He explained that a soft FID meant that most major items to advance the project have been completed.