Pieridae selects CB&I to undertake Goldboro LNG FEED

HALIFAX, June 4, 2014 /PRNewswire/ - Pieridae Energy Canada (Pieridae) has selected CB&I to undertake Front-End Engineering and Design (FEED) for Goldboro LNG, a proposed liquefied natural gas (LNG) export facility.

Goldboro LNG, the east coast of Canada and the United States' closest mainland LNG export terminal to Europe and India, will consist of a processing plant and facilities for the storage and export of LNG, including a marine jetty. The facility is anticipated to produce approximately 10 million tonnes per annum (MTPA) of LNG and have on-site storage capacity of 690,000 cubic metres of LNG.

The FEED phase will determine the layout of the facility and associated components, as well capital expenditures, which are currently estimated at $8.3 billion.

"Having received Environmental Assessment approval from Nova Scotia's Minister of Environment in March 2014, the selection of CB&I to undertake FEED is another important milestone towards designing and constructing Goldboro LNG," said Alfred Sorensen, president and CEO, Pieridae.

"CB&I has served the liquefied natural gas industry for more than 50 years, having led or participated in more than 350 LNG projects and studies in 45 countries and this award builds on that experience," said Patrick K. Mullen, President of CB&I's Engineering, Construction and Maintenance operating group. "We look forward to working with Pieridae on the Goldboro LNG project, which upon completion will serve as North America's closest mainland LNG export terminal to Europe and India."

Pending receipt of all necessary regulatory and government permits and a positive final investment decision in 2015, Pieridae anticipates construction taking four years, with Goldboro LNG being commercially operational in 2020.

Pieridae is in advanced discussions with several natural gas producers, pipeline operators and LNG customers. In June 2013, Pieridae entered into a 20-year sales agreement with E.ON Global Commodities SE, a subsidiary of one of the world's largest investor-owned power and gas companies, to deliver approximately 5 MTPA of LNG from Goldboro LNG to E.ON.

The company has submitted an application to the National Energy Board (NEB) to import up to 1.0 billion cubic feet per day (Bcf/d) of natural gas through the existing pipeline systems between Canada and the United States, and export up to 1.4 Bcf/d of natural gas, as LNG, from Goldboro, NS, to international markets.

Pieridae anticipates that, at its peak, the Goldboro LNG terminal will create up to 3,500 jobs during construction and 200 full-time, permanent jobs during operations.

About Pieridae Energy

Pieridae Energy is an energy infrastructure development company focused on LNG opportunities. Founded in 2011, the company is developing a fully integrated LNG infrastructure business. Pieridae is currently developing Goldboro LNG, www.GoldboroLNG.com, a proposed export LNG terminal located in Goldboro, Nova Scotia, Canada.

SOURCE Pieridae Energy Canada