Canada’s Pembina Pipeline and the Haisla Nation have again postponed a final investment decision on their Cedar floating LNG export project.
Pembina and the Haisla Nation each own 50 percent in the Cedar LNG project.
The two firms previously moved the final decision on the LNG export project from the fourth quarter of 2024 to the first quarter of this year.
In January, the partners confirmed they had selected Samsung Heavy Industries and Black & Veatch to provide engineering, procurement, and construction for Cedar LNG’s floating LNG production unit.
Cedar LNG said in a recent update it has completed several “key” project deliverables, including obtaining material regulatory approvals, advancing inter-project agreements with Coastal GasLink and LNG Canada, and executing the EPC agreement.
“Though numerous milestones have been achieved, a number of schedule-driven, interconnected elements require resolution prior to making a final investment decision, including binding commercial offtake, obtaining certain third party consents, and project financing,” it said.
Cedar LNG said that FID is now expected “in the middle of 2024”.
The $2.4 billion FLNG project will have a capacity of about 3 mtpa and will source natural gas from the prolific Montney resource play in northeast British Columbia.
Moreover, Cedar LNG plans to receive feed gas from the Coastal GasLink pipeline, which will supply the giant Shell-led LNG Canada export plant near Kitimat.
The floating LNG facility will also be located near the LNG Canada plant and will be powered by renewable electricity from BC Hydro.