With $3B from Germany, Canadian Goldboro LNG Looks Like Done Deal

Location for proposed Goldboro LNG plant – click for larger version

Canadian company Pieridae Energy is on the cusp of making a positive final investment decision (FID) to build a $10 billion LNG export facility on the coast of Nova Scotia. In February, Pieridae enlisted the help of Morgan Stanley and Société Générale to help raise the $10 billion needed to build Goldboro LNG (see Pieridae Energy Hires Morgan Stanley, SG to Help Fund Goldboro LNG). In May, Pieridae began lining up customers in Europe (see Goldboro LNG in Nova Scotia Negotiating Deal to Sell LNG to Europe). In a press release issued yesterday, Pieridae says they have hired yet another adviser, KfW IPEX-Bank (in Germany), to help it get a $3 billion loan from the German government. Canada’s Financial Post is reporting if the German loan goes through, Pieridae is prepared to pull the trigger and commit (and begin to build) the project this year. Which is a good thing, because if Pieridae doesn’t begin construction on Goldboro LNG by the end of this year, they risk losing Nova Scotia environmental approval…

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