Goldboro LNG in Nova Scotia Negotiating Deal to Sell LNG to Europe

The Goldboro LNG export facility in Nova Scotia continues its march toward construction. As we reported in February, Pieridae Energy (the builder) has enlisted the help of Morgan Stanley and Société Générale to help raise $10 billion to build it (see Pieridae Energy Hires Morgan Stanley, SG to Help Fund Goldboro LNG). Last May, MDN told you that Pieridae Energy had signed a labor agreement to build the Goldboro LNG export facility along the shore of Nova Scotia, Canada (see Update on Goldboro LNG – Labor Agreement Signed to Build). The U.S. Dept. of Energy approved the plant for exporting to non-free trade agreement counties in February 2016, an indication that Marcellus/Utica gas may flow to the plant (see Goldboro LNG Project Gets Final DOE Approval – Good for Marcellus). If the gas to feed the new export facility does come from the Marcellus/Utica, it will come via the Maritimes & Northeast Pipeline. However, Goldboro can also source gas from TransCanada’s pipeline system, from Western Canada. We remain hopeful that M-U gas will be the preferred feedstock. There is new news to report on this project. Pieridae announced earlier this week they are in the midst of negotiating a 10-year contract with a “European utility” to purchase up to 1 million tonnes per year of LNG…

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