Canada’s Pieridae mulls floating LNG option for Goldboro

Canada’s Pieridae Energy may develop its Goldboro LNG export project in Nova Scotia as a floating plant, according to the company’s chief executive Alfred Sorensen.

The company is looking into several options after it failed to make a final investment decision on the company’s $10 billion onshore LNG export development.

It has also recently launched a formal process to consider a range of “strategic alternatives.” These alternatives may include a corporate sale, merger, a sale of a material portion of Pieridae’s assets or other transactions.

“We recently announced a step change in our approach to the Goldboro LNG project as we analyze options that could make a reconfigured LNG initiative more compatible with the current environment,” Sorensen said on Thursday in the company’s second-quarter report.

“Those options might include a floating LNG project, one with proven technology that drastically reduces GHG emissions; involves clean, electric-drive turbines and reduces capital costs substantially compared to our former project, while maintaining a projected healthy rate of return,” he said.

Pieridae had planned to build a facility with two 5.2 mtpa trains that would employ about 3,500 workers during the peak construction phase.

Moreover, the firm has a 20-year binding contract with German energy firm Uniper for all of the volumes from the first liquefaction train.

It had previously expected to start commercial LNG deliveries to Uniper between August 31st, 2025 and February 28th, 2026.

Pieridae has also last year teamed up with Bechtel on Goldboro LNG after US engineer KBR backed out of signing the lump sum deal.

- Advertisements -

Most Popular

LNG tanker suffers rudder failure in Suez Canal

NYK's 2021-built LNG carrier Grace Emilia suffered a malfunction of its rudder in the Suez Canal on Wednesday, but...

Samsung Heavy to build LNG carrier duo for about $496 million

South Korean shipbuilding giant Samsung Heavy Industries has won a new order to build two liquefied natural gas (LNG)...

RWE says Brunsbuettel FSRU to receive first LNG carrier in early February

The 170,000-cbm FSRU Hoegh Gannet, which serves the Elbehafen LNG import terminal in Germany's Brunsbuettel, will receive its first...

More News Like This

Canada’s Pieridae still evaluating FLNG option for Goldboro

Canada’s Pieridae Energy is still assessing whether it can develop its Goldboro LNG export project in Nova Scotia as...

Canada’s Pieridae Energy says looking at “strategic alternatives”

Canada’s Pieridae Energy, the developer of the Goldboro LNG export terminal, said it has launched a formal process to...

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...

Canada’s Pieridae says looking at other options for Goldboro LNG

Canada’s Pieridae Energy is evaluating options for its proposed Goldboro LNG export terminal in Nova Scotia after it failed...