LNG export facility canceled

Canada’s Pieridae Energy has shelved plans to build an LNG export terminal in Nova Scotia.

The Goldsboro facility was to export up to 10 Mtpa and would have been the first export facility developed on Canada’s East Coast.

The company has “initiated a process to sell its Goldboro subsidiary and associated assets, licenses and permits (“Goldboro”), highlighted by 267 acres of undeveloped coastal industrial land in Nova Scotia,” the company said in a news release. “Any cash proceeds from the sale of Goldboro will be used to repay existing indebtedness, in particular the Bridge Term Loan. This process is expected to conclude in the first half of 2024 and, once complete, will mark the conclusion of Pieridae’s strategic pivot away from east coast LNG and toward an Alberta-focused natural gas production and processing business.”