Pieridae Mulls Extensions with Uniper

Maritime Activity Reports, Inc.

July 12, 2019

Andreas Schierenbeck, Uniper CEO: Photo: Uniper

Andreas Schierenbeck, Uniper CEO: Photo: Uniper

Canadian energy company has negotiated extensions of the key deadlines under its 20-year agreement with German energy trader Uniper.

These include expected commercial deliveries of  LNG gas to Uniper to start between November 30, 2024 and May 31, 2025, and the extension of the deadline to make a positive financial investment decision (FID) for the company’s proposed Goldboro LNG facility to September 30, 2020.

The 20-year agreement with Uniper is for half the liquefied natural gas produced at Goldboro or 5 mmtpa (million tonnes per annum).

“These extensions allow us to complete the work needed to make a final investment decision for the Goldboro Project,” said Pieridae CEO Alfred Sorensen. “We continue to have ongoing discussions with KBR that will ultimately lead to finalized designs and fixed costs for the project. We expect the vast majority of that work to be completed near the end of 2019, which will move us closer to FID.”

KBR (Kellogg, Brown & Root Limited) is currently reviewing an amended version of the previously prepared front-end engineering and design (FEED) study for the proposed Goldboro LNG facility.

“Our recent announcement that we will be acquiring key Shell assets in the Alberta Foothills helps us secure much of the remaining conventional natural gas supply needed for the first train at Goldboro,” said Sorensen.

“This is Eastern Canada’s only LNG facility with the majority of its permits, a pipeline route and an anchor customer. Goldboro LNG will create thousands of Canadian jobs and establish a solid global market for Canadian energy for years to come,” he added.

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