Goldboro LNG

Posted at 9:31 am on March 1, 2018

It’s another hopeful sign for a proposed liquefied natural gas facility in Goldboro, Guysborough County.

Pieridae Energy of Calgary, the company behind developing the Goldboro LNG plant says it has retained Morgan, Stanley and Company LLC and SG Americas Securities LLC to serve as financial advisors for the project.

Pieridae says it intends to raise up to 10 billion dollars US in equity and project financing to build the Goldboro LNG plant. It is expected the company will make an investment decision on whether to proceed with construction of the plant early next year.

Current estimates place the cost of the project at 7 billion dollars US. It would have the capacity to export 10 million tonnes of LNG a year.

Posted at 9:45 am on January 31, 2018

Progress continues to be made on Pieridae Energy’s  proposed Liquefied Natural Gas Export facility in Goldboro.
The Director of Project Development, Mark Brown, says it’s issued a request for proposals for site preparation for the facility.  Work is expected to start on that project before the end of February.
Brown says the company is about 12 months away from a final investment decision on whether to proceed with construction of the LNG plant.
Pieridae’s Goldboro LNG project is expected to cost about $7 billion US.  The facility will have the capacity to export 10 million tonnes of LNG a year.

Posted at 8:55 am on October 2, 2017

Guysborough District Warden Vernon Pitts says he’s optimistic about the future of Liquefied Natural Gas in the municipality.  There’s increased attention on two proposed LNG export facilities in Goldboro and Bear Head, Richmond County following the cancellation of projects in British Columbia.
Pitts says the signs remain positive for the Goldboro LNG project.
Pitts says Goldboro LNG also has the advantage of being in close proximity to the Maritimes and Northeast Pipeline.

Posted at 2:14 pm on May 17, 2017

 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.

Posted at 2:59 pm on January 13, 2016

A proposed Liquefied Natural Gas export facility in Goldboro, Guysborough County has taken another significant step.  Last month, Pieridae Energy (Canada) Limited purchased 107 and a half hectares of land from the Guysborough District Municipality for 3.2 million dollars. The property, at  the Goldboro Industrial Park, will serve as the site for the facility.
Pieridae’s Director of Project Development Mark Brown says a final decision on proceeding with the project will be made later this year.
Starting in April, Pieridae will also lease another 57.6 hectares from the municipality.  It’s next to the site the company has purchased and will be used during construction of the LNG facility.  If the final decision to proceed is yes, construction is expected to begin early next year.