Pieridae Energy has announced it has signed a purchase and sale agreement with Shell Canada
to buy Shell’s midstream and upstream assets in the Southern Alberta foothills for $190 million. The closing of the acquisition is expected in the third quarter of 2019.
James Millar, director of external relations with Pieridae, called the purchase a big step for the Goldboro LNG project.
Millar said they have all of the major permits in place for the project. They estimated the cost of the facility at around $10 billion. As for a final investment decision, Millar said they are looking at either late 2019 or the first quarter of 2020.
Goldboro LNG is set to include a processing plant and facilities for the storage and export of LNG, including a marine jetty. The workforce is anticipated to reach 3,500 during construction which Millar said would employ 30 per cent of the unionized workforce in Nova Scotia. He said it would be the largest mega-project the province has ever seen. He said the plant would also create 200 permanent jobs during operation.
Pieridae Energy Limited announced it has engaged engineering firm Kellogg Brown and Root Limited to review a previous version of the company’s front-end engineering and design study for the proposed Goldboro LNG facility.
KBR will also perform an open book estimate which Pieridae states is needed before entering into an engineering, procurement, and construction (EPC) contract.
Pieridae’s director of external relations, James Millar, said the company will meet all the criteria needed to move to a final investment decision once the EPC contract is signed. Millar said the project is in good shape and continues to move forward.
Millar said the company is hoping to start some construction activities this year and be able to ship first gas overseas to meet the expected global LNG shortfall in 2023/2024.