There’s been a merger involving the company behind the proposed liquefied natural gas export facility in Goldboro, Guysborough County. Calgary-based Pieridae Energy has announced it has entered into an agreement to amalgamate with Petrolia, a junior oil and gas company in Quebec.
Pieridae’s President and CEO Alfred Sorensen says it has been a private company up to now and it limited the company’s ability to raise capital. Sorenson says merging with a public entity like Petrolia will be helpful as it moves closer to construction.
The deal is expected to close by the middle of July.