The USA Department of Energy authorizes Pieridae Energy (USA) Ltd. to export American natural gas

HALIFAX, May 26, 2015 /PRNewswire/ - Pieridae Energy (Canada) Ltd. (Pieridae) is pleased to announce that the Department of Energy of the USA has granted Pieridae Energy (USA) Ltd. long-term multi-contract authorization to export natural gas to Canada for end use in Canada and to export LNG produced from such natural gas from Canada to countries with which the USA has entered into a free trade agreement requiring national treatment for trade in natural gas ("FTA countries").

The authorization issued on May 22, 2015 is granted in response to an application by Pieridae Energy (USA) Ltd. to export up to 292 billion cubic feet (Bcf) per year of natural gas (0.8 Bcf per day) via the Maritimes Northeast US and Canada pipelines. The natural gas exported to Canada will be purchased by Pieridae and will then be processed at the proposed Goldboro LNG liquefaction facility located in Goldboro, Nova Scotia and exported as LNG to FTA countries.

"We're pleased to have achieved this important milestone for the Goldboro LNG project. It's a significant step forward in the final investment decision process," said Alfred Sorensen, president and CEO of Pieridae. "We look forward to continuing to work with the Department of Energy and the LNG community in the United States."

In June 2013, Pieridae entered into a 20-year sales agreement with European-based E.ON Global Commodities SE, a subsidiary of one of the world's largest investor-owned power and gas companies, to deliver approximately five million metric tons per annum of LNG from the Goldboro LNG facility.

Pieridae's application to the Canadian National Energy Board (NEB) to import natural gas from the USA through the existing pipeline systems between Canada and the USA and to export LNG from Canada is pending.

About Pieridae

Pieridae 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 the Goldboro LNG facility, www.GoldboroLNG.com.

SOURCE Pieridae Energy Canada