Pieridae Energy has secured approval from the Nova Scotia Utility and Review Board (NSUARB) to move ahead with the construction of its Goldboro LNG Facility,
The Goldboro LNG Facility is an export and storage liquefied natural gas (LNG) project in the Canadian province Nova Scotia.
The Canadian energy company said that it will work towards satisfying each of the conditions attached with the permit and for starting the construction of the Goldboro LNG Facility after it reaches a positive financial investment decision.
To be built in the Goldboro Industrial Park in Guysborough County, the LNG project will feature a natural gas liquefaction plant, a marine jetty for loading LNG with a capacity of 140,000–250,000m3 and three storage tanks, each with a capacity of 230,000m3.
The Goldboro LNG Facility, which is expected to have capital expenditures of around $5-10bn, is targeted to begin commercial operations in 2023.
With a step closer towards the start of construction of the LNG project, Pieridae Energy has appointed Hatch as its engineering adviser.
According to the company, Hatch’s main competencies are in the conversion, storage, handling and transportation of LNG, which it believes is important in ensuring that all aspects of the project site are covered in the plan.
Pieridae Energy also said that it is continuing talks with First Nations in an effort to convince Mi’kmaq people about the opportunities contemplated by a Memorandum of Understanding signed five years ago.
Pieridae Energy CEO Alfred Sorensen said: “It is appropriate to formally recognize the close cultural and historical relationship between the Mi’kmaq people in Nova Scotia and their traditional territory and the resources of the province while acknowledging that the Mi’kmaq have not historically ceded lands or resources through treaty or other formal agreement.”
Earlier this week, the Canadian energy company got confirmation from the German government about an additional financing of up to $1.5bn for the Goldboro LNG Facility under its UFK program.
The written confirmation received by the Canadian company confirms eligibility for the German funding for the upstream activities within the proposed Goldboro LNG project in Nova Scotia.
Previously, Germany had committed to a loan of up to $3bn to help the company cover the construction costs of Goldboro LNG train 1 and all associated facilities.