Concept art of Cedar LNG. Cedar LNG
CALGARY — Pembina Pipeline Corp. says it will defer making a final investment decision on its proposed Cedar LNG project until mid-2024.
The Calgary-based pipeline company and its project partner, the Haisla First Nation, have been working to develop plans for a floating liquefied natural gas facility in Kitimat, B.C.
The project partners had previously said a decision to go ahead with the project could be made before the end of the first quarter, with onshore construction work starting as soon as the second quarter of this year.
But Pembina now says there a number of issues that must be resolved before a final decision can be made, including ongoing negotiations for commercial offtake, agreements, the obtaining of certain third-party consents, and project financing.
Cedar LNG has already obtained all major regulatory approvals and is advancing an agreement that would connect the floating facility to Coastal GasLink, the TC Energy-owned pipeline that will also carry natural gas to the Shell-led LNG Canada facility currently under construction.
The capital cost of Cedar LNG was originally estimated at US$2.4 billion, but Pembina Pipeline chief financial officer Cameron Goldade said Friday the company now believes it will cost more than that.
This report by The Canadian Press was first published Feb. 23, 2024.
Companies in this story: (TSX:PPL)
The Canadian Press
- 0084 EMP Metals Pipeline Online0084 EMP Metals Pipeline Online
- 0053 Kingston Midstream Westspur Alameda Click0053 Kingston Midstream Westspur Alameda Click
- 0082 CsHM 2024 Pipeline0082 CsHM 2024 Pipeline
- 0077 Caprice Resources Stand Up For Free Speech0077 Caprice Resources Stand Up For Free Speech
- 0076 Latus only0076 Latus only
- 0061 SIMSA 2024 For Sask Buy Sask0061 SIMSA 2024 For Sask Buy Sask
- 0055 Smart Power Be Smart with your Power office0055 Smart Power Be Smart with your Power office
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0002 gilliss casing services0002 gilliss casing services
- 9002 Pipeline Online 30 sec EBEX9002 Pipeline Online 30 sec EBEX
- 9001