Canada’s Pieridae says CFO resigns

Canada’s Pieridae Energy, the developer of the Goldboro LNG export terminal, said its chief financial officer Rob Dargewitcz has resigned to pursue other opportunities.

The company said in a statement on Monday Dargewitcz’s departure was not related to any issues or disagreements regarding Pieridae’s financial disclosures or accounting policies and practices.

Moreover, the company would soon begin a process to appoint a successor to Dargewitcz who would leave the company on July 30, it said.

The resignation comes just days after Pieridae failed to make a final investment decision on the company’s $10 billion LNG export development in Nova Scotia.

To remind, Pieridae said earlier this year it had expected to make a final decision on its Goldboro LNG export terminal by the end of last month, after postponing the decision last year due to Covid-19.

Pieridae’s CEO Alfred Sorensen said last week, “it became apparent that cost pressures and time constraints due to Covid-19 have made building the current version of the LNG project impractical.”

The company will now assess options and analyze strategic alternatives that could make the LNG project “more compatible.”

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