The company planning to build a $10-billion LNG export facility in Nova Scotia says it will delay making an investment decision because of depressed global commodity markets and the effects of the COVID-19 pandemic.
Last July, Pieridae Energy Ltd. announced it would delay until Sept 30, 2020, a decision on proceeding with the Goldboro LNG project. [ Sign up for our Health IQ newsletter for the latest coronavirus updates ] Pieridae now says it is in negotiations with Germany’s largest utility, Uniper, to extend the investment decision deadline to June 2021.
It has a 20-year agreement with Uniper for half of Goldboro’s production of about 10 million tonnes of super-cooled liquefied natural gas per year.