About usHistory

Building on a Winning Idea

Pieridae Energy is the second go-around for the key management team of the company, focused on building a liquefied natural gas export project in Canada.

Our first project was on the West Coast in the Town of Kitimat. That project was sold in 2010.

In 2012, we decided we would try and do a project on the East Coast with the idea of finding a customer first who would be the anchor tenant of the new LNG project. That was accomplished in late 2013 and from there we have begun our process of becoming an integrated LNG company by acquiring natural gas resources, primarily in Alberta to start. That gas will be used to supply our Goldboro LNG facility in Nova Scotia.

A Key Acquisition

To be successful, Goldboro needs a stable supply of natural gas to liquefy and ship overseas. Pieridae took a major step in locking down that supply by acquiring Ikkuma Resources late in 2018. Ikkuma owned an extensive area of producing wells and gas reserves in the Alberta Foothills. Once the reserves are developed, we expect these assets should supply the majority of the natural gas needed for Train 1 (the first facility) at Goldboro.

 

 

Securing More Canadian Natural Gas

In June of 2019, Pieridae announced it had acquired key gas-producing assets from Shell Canada, along with three gas plants. This acquisition will have a positive impact on the company's bottom line, improve its cash flow and help progress the Goldboro LNG Project. Not only does this deal help us secure much of the remaining conventional natural gas supply needed for the first train of the Goldboro LNG project, it makes Pieridae a major player in the Alberta midstream and upstream industry. Goldboro is Eastern Canada’s only LNG facility with the majority of its permits, a pipeline route and an anchor customer. Goldboro LNG will create thousands of Canadian jobs and establish a solid global market for Canadian energy for years to come.

Looking Forward

There are three key areas where we see our future. The first is aggregation of supply. We continue to consolidate our natural gas resources around our current positions in Western and Eastern Canada.

Second, when we look at a supply source for our second facility or train, there are offshore opportunities both in Nova Scotia and Newfoundland. That would bring stranded natural gas supplies to market.

Third, take advantage of the optionality the LNG terminal would provide us with over time. We are bringing gas from one of the lowest priced regions of the world to water, and on the way we pass by one of the highest priced markets in the Northeast United States. It’s that option that we are creating across North America that is ultimately going to be able to extract significant value.