Pieridae announced its new hire of veteran LNG industry professional Andy Mukherjee P.Eng as Senior Vice-President LNG to lead the development of the multi-billion dollar Goldboro LNG Project on August 26, 2020.
“We are very pleased to have someone with Andy’s vast, 30-plus years of experience join our team and lead the development of our Goldboro LNG Project,” said Pieridae CEO Alfred Sorensen.
Media coverage of the hire was positive:
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Pieridae names new executive to lead Goldboro LNG development
Daily Oil Bulletin Wednesday, August 26, 2020, 6 AM MDT
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Pieridae hires Mukherjee to lead Goldboro LNG Project
Oil & Gas Journal Wednesday, August 26, 2020
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Pieridae banks on experience for Goldboro LNG
Offshore Energy Adnan Bajic Wednesday, August 26, 2020
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Pieridae hires experienced SVP to lead its Goldboro LNG Project
LNG Industry Will Owen Thursday, August 27, 2020
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Pieridae Hires LNG Vet For Goldboro
AllNovaScotia.com August 27, 2020 Dan Walsh
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Pieridae hires Muckherjee as SVP LNG
Kallanish Energy Friday, August 28, 2020
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Pieridae released its Q2 2020 results on August 12, 2020. The company continued to show solid results during the ongoing pandemic including increased revenue, increased net operating income and an increase in average production. On top of the positive financial results, it was announced that a resolution had been reached with KBR.
“As part of the resolution, Pieridae acquires the right to transition all of KBR’s work product created to date to a replacement EPCC contractor. We are in the midst of discussions with other firms that have expressed strong interest in concluding a lump sum turnkey EPCC contract for the LNG Facility with Pieridae.” said Pieridae's Chief Executive Officer Alfred Sorensen.
Media coverage was positive and factual:
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New EPCC contractor to replace KBR on Pieridae Goldboro LNG Project
Daily Oil Bulletin Elsie Ross Wednesday, August 12, 2020, 11:49 AM MDT
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Canada’s Pieridae settles with KBR on Goldboro work [update]
Natural Gas World Dale Lunan August 12, 2020
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Pieridae Has Prospects for New Engineer
allNovaScotia.com August 13, 2020 Dan Walsh
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Pieridae is continuing to take tangible steps to advance the Goldboro LNG Project despite more COVID-19 related hurdles. Having received notice from KBR on their decision to stop negotiations regarding a lump sum turnkey engineerying, procurement, construction and commissioning (EPCC) contract in relation to the project, we continue to look forward.
Pieridae CEO, Alfred Sorensen, says, “With this notice from KBR, we are looking at all of our options, including discussing the matter with legal counsel to determine the most appropriate next steps. There are other reputable and experienced firms who have the expertise to provide these services, with some already indicating a willingness to replace KBR. We have had the discussion with several of them to gauge their interest.”
News coverage of the story is as follows:
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KBR to focus on government contracts, quit natural gas, energy business
Reuters June 22, 2020 6:23 PM EDT
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KBR Exit from Energy Business to Benefit Other EPCs in U.S. LNG Build-Out
Leticia Gonzales June 25, 2020
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KBR to focus on government contracts, quit most energy business
Jun. 22, 2020 6:55 PM ET Seeking Alpha Carl Surran, SA News Editor
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KBR to Exit Most LNG, Energy Projects
Bertie Melinda Taylor Rigzone Staff Wednesday, June 24, 2020
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KBR Will Exit Fixed-Price Energy Construction, CEO Confirms
June 18, 2020 Debra K. Rubin Engineering News-Record
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Following an article from Kallanish Energy which referenced ‘There has been a number of LNG projects recently put on the shelf, including Tellurian’s Driftwood project and Pieridae Energy’s Goldboro project.’, we reached out to the publication to express concerns over the statement. The resulting article from that conversation is below:
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Pieridae shows strong Q1 results despite oil prices, pandemic
Guysborough Journal Helen Murphy June 3 2020
GUYSBOROUGH – With strong financial results, an eager customer and changing economic conditions, Pieridae Energy says now is the time for governments to get on board to help get its Goldboro LNG project built.
The company continues to reap benefits from its acquisition of gas-producing Shell assets in the Alberta Foothills last fall. Despite a steep drop in oil prices and the impacts of COVID-19, Pieridae announced strong financial results for the first quarter of 2020.
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Pieridae is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange (TSX). Shares are expected to start trading on the TSX at the opening of the market on June 3, 2020.
“This is a big step for our Company, and we look forward to the benefits being part of the TSX provide,” said Pieridae CEO Alfred Sorensen. “The key here is that being a member of the TSX allows Pieridae to tell its story to a bigger investor audience, including the Canadian institutional investment community, which should improve liquidity in the stock.”
This announcement recieved positive news coverage:
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Pieridae To Be Listed On TSX
Daily Oil Bulletin Monday, June 1, 2020, 7:34 AM MDT
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Pieridae Moves Up to Bigger Exchange
AllNovaScotia.com June 2, 2020 Geoff Bird
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Pieridae to be listed on Toronto Stock Exchange
Offshore Energy June 2, 2020, by Mirza Duran
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Pieridae issued its Q1 2020 earnings on May 28, 2020 showing solid financial returns for a second straight quarter.
Compared to Q1 2019, revenue, operating income and average production all increased by over 100 per cent. Natural gas physical hedging resulted in a realized natural gas price of $2.23/mcf, 15% higher than benchmark prices of $1.94/mcf for the quarter.
First quarter results recieved positive and factual media attention:
- Shell Assets lift Pieridae Higher in Q1
Natural Gas World May 29, 2020 - Pieridae Energy announces 1Q20 results
Published by Will Owen, Assistant Editor LNG Industry, Friday, 29 May 2020, 09:15 - Shell assets lift Pieridae higher in Q1
Natural Gas World Dale Lunan May 29, 2020, 3:27 p.m.
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“We are disappointed by the AER’s decision regarding the transfer of licences for the Foothills Assets.
The decision has nothing to do with Pieridae’s financial position nor its ability to clean up certain assets. The issue for denial was the fact that there is no precedent for splitting a licence or no ability under the current legislation to do so. This issue only applies to the Waterton and Jumping Pound gas plants.
Both companies are moving swiftly to evaluate options on the transfer applications and will continue to attempt to seek clarity from the regulator to define an appropriate path forward."
Alfred Sorensen
Pieridae Energy Chief Executive Officer
Pieridae's responce to the application denial gathered the following media coverage:
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Alberta Energy Regulator blocks sale of Shell assets over clean-up concerns
The Canadian Press Thursday, May 14, 2020
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Pieridae Energy: Shell, Pieridae to try again after energy regulator blocks licence transfers
The Canadian Press Bob Weber May 15, 2020
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Shell, Pieridae to try again after energy regulator blocks licence transfers
The Canadian Press Bob Weber May 15, 2020
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Shell, Pieridae Applications for Sour Gas Plant Transfers Rejected By AER
Daily Oil Bulletin Elsie Ross Friday, May 15, 2020, 11:15 AM MDT
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Pieridae's Alberta Woes
AllNovaScotia.com May 15, 2020 Dan Walsh
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Shell Canada, Pieridae working on new sale agreement
Kallanish Energy May 19, 2020
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Alberta’s Energy Regulator looks to be reining in its leniency
Jeffrey Jones MERGERS AND ACQUISITIONS REPORTER PUBLISHED MAY 15, 2020
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Goldboro LNG Hits Regulatory Snag in Alberta Related to Supply Acquisition
Natural Gas Intelligence Gordon Jaremko May 20, 2020
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Pieridae Still Confident of AER Approval of Shell Licence Transfers
Daily Oil Bulletin Elsie Ross Thursday, May 28, 2020, 2:45 PM MDT
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Pieridae announced its successful negotiation with German energy company Uniper Global Commodities to extend key deadlines in their 20-year agreement. Deliveries of gas to Uniper are now expected to start between August 31, 2025 and February 28, 2026. The final investment decision (FID) for the Goldboro LNG Project has also been extended to June 30, 2021.
“We recently expressed confidence we would sign key deadline extensions with Uniper related to FID for our Goldboro LNG facility and Pieridae is pleased to announce those extensions today. Our relationship with Uniper remains strong and we very much appreciate their on-going support,” said Pieridae CEO Alfred Sorensen.
News coverage of the announcement was as follows:
- Pieridae, Uniper Extend Key Deadlines in LNG Agreement
Daily Oil Bulletin Tuesday, May 5, 2020, 6:52 AM MDT - Pieridae and Uniper extend key Goldboro LNG deadlines
Will Owen, Assistant Editor LNG Industrym Wednesdaym May 6, 2020, 10:00 - Pieridae Energy and Uniper extend Goldboro LNG deadlines
Hydrocarbons Technology May 6, 2020 - Pieridae Gets Extensions on Gas Deliveries, Goldboro LNG
Bertie Melinda Taylor, Rigzone Staff, Wednesday, May 6, 2020 - Pieridae, Uniper extend deadlines on Goldboro LNG project
Kallanish Energy May 7, 2020
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Pieridae issued its Q4 2019 earnings and year-end financial results April 16, 2020 and we had quite a good story to tell.
The company recorded substantial, year-over-year increases in revenue, net operating income and other key financial metrics. Petroleum and natural gas revenue increased $102.5 million year over year, or 4347%, to $104.9 million in 2019.
Production increased 241% from 17,509 boe/d in the fourth quarter of last year 2018, to 42,137 boe/d in Q4 2019.
Media coverage was positive and factual:
- COVID-19 Delays FID on Pieridae’s LNG Project Beyond September
Daily Oil Bulletin Thursday, April 16, 2020, 7:22 AM MDT - Nova Scotia LNG project decision delayed due to market conditions, COVID-19
The Canadian Press April 16, 2020 08:12 AM Dan Healing - Pieridae delays Nova Scotia LNG export plant decision due to coronavirus
Scott DiSavino Reuters April 16, 2020 - Nova Scotia’s Goldboro LNG Delayed on Covid-19 Fallout
Natural Gas Intelligence Gordon Jaremko April 16, 2020 - Government Infrastructure Funding Eyed by Pieridae For Goldboro LNG Project
Daily Oil Bulletin Elsie Ross Friday, April 17, 2020, 6:20 AM MDT - Pieridae Delays Goldboro Decision
AllNovaScotia April 17, 2020 Geoff Bird - Pieridae to delay Nova Scotia LNG export plant decision
Seeking Alpha April 16, 2020 1:10 PM ET Carl Surran, SA News Editor
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Daily Oil Bulletin Jim Bentein Wednesday, January 29, 2020, 10:49 AM MST
The CEO of Pieridae Energy Limited told those attending an investor conference Wednesday that concerns about the company’s financial viability are overdone and Pieridae will deal with those concerns at an upcoming hearing.
Alfred Sorensen, speaking at the 23rd annual CIBC Western Institutional Investor Conference being held in Banff, said concerns expressed about the firm’s financial viability and how that may eventually add to the inventory of abandoned wells in Alberta are overblown. The company is planning to develop a $10-billion LNG export plant at Goldboro, Nova Scotia.
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Pieridae released updated corporate guidance for 2020 on December 12, 2019 which focuses on increasing net operating income due to, among other things, operating efficiencies; increasing production with the recent, previously disclosed acquisition of key Alberta Foothills assets; lower per barrel operating costs; a higher capital budget; and a development expense budget for Goldboro LNG as we move toward FID for the project.
- Pieridae to spend $16MM on proposed Nova Scotia LNG project in 2020
Daily Oil Bulletin Deborah Jaremko Dec. 13, 2019 - FID for Goldboro LNG in Nova Scotia Possible in 2020, Says Exec
Natural Gas Intelligence Gordon Jaremko December 13, 2019 - Pieridae announces 2020 budget for Goldboro
Guysborough Journal Helen Murphy December 18, 2019
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Canadian Energy Centre website – feature story December 11, 2019
Expanding access to Canada’s vast fossil fuel resources will significantly lower global greenhouse gas emissions, according to a growing body of evidence showing that Canadian natural gas can play a key role in addressing climate change while meeting the world’s growing demand for affordable and reliable energy.
“There is a huge window of opportunity, particularly when it comes to switching from coal to natural gas for power production,” said Maria van der Hoeven, a Dutch energy policy expert and former executive director of the Paris-based International Energy Agency (IEA).
As the UN Climate Change Conference COP 25 continues this week in Madrid, Spain, recent reports by the IEA and the Netherlands’ Clingendael International Energy Programme (CIEP), where Van der Hoeven is a senior fellow, have concluded that replacing coal-fired electricity generation with natural gas can provide some of the quickest and deepest cuts to global GHG emissions, supporting the Paris Agreement’s goal of limiting global warming to less than 2 degrees Celsius. Power generation currently accounts for more than one-third of all GHG emissions. Using natural gas to generate electricity produces half as many GHGs as coal and virtually eliminates the noxious air pollution related to burning coal.
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Daily Oil Bulletin Friday, December 6, 2019, 6 AM MST
This article is part of an editorial series “Canada, LNG and the natural gas economy.” This initiative is supported by the Canadian Society for Unconventional Resources (CSUR), which is a leading Canadian source of factual, unbiased technical information on the development of unconventional oil and gas resources.
Liquefied natural gas projects planned for eastern Canada represent a significant opportunity for Alberta’s gas producers to reach tidewater and access markets in western Europe.
Three key LNG project located in Eastern Canada — Pieridae Energy Ltd.’s Goldboro project in Nova Scotia; LNG Limited’s Bear Head project, also in N.S.; along with GNL Quebec’s Énergie Saguenay project — all plan to access gas from Western Canada.
That’s good news for struggling producers in Alberta and British Columbia, as increased demand for gas from Western Canada would lead to improved pricing.
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CHRIS VARCOE, CALGARY HERALD Updated: November 28, 2019
Canada still has only one liquefied natural gas export project under construction, despite more than two dozen separate developments being pitched over the past decade.
But the former executive director of the International Energy Agency believes Canada has an opportunity to get more projects launched, providing LNG to the world and helping displace coal and other higher-emitting sources of greenhouse gases.
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Sputnik International 15:11 November 25, 2019
Canada's Super-Chilled Fuel as Germany's Source of Energy
Apart from Qatar, Germany regards Canada's super-chilled fuel as yet another source of energy. In 2013, Germany's Uniper, the country's largest utility, concluded a 20-year deal with Canada's Pieridae Energy for 5 million tonnes of hydrocarbons a year produced by its first train.
To that end Pieridae is going to build an LNG export terminal on Canada’s East Coast having recently purchased gas fields from Royal Dutch Shell. The Goldboro LNG terminal is set to compete with the US Gulf Coast's liquefied natural gas industry due to its shorter distance to Europe which would help it cut LNG shipping costs.
According to the CBC, in 2018, the German government offered Pieridae $4.5-billion in loan guarantees for the project which reportedly envisages the delivery of "non-frac" gas in the first train. There are a lot of concerns that "fracking" technology based on injecting water and chemicals underground to release natural gas is fraught with dramatic environmental risks.
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On November 12 we announced Rob Dargewitcz as Pieridae's new CFO.
Rob is well-positioned to take our company to the next level.
As our CEO Alfred Sorensen said: "We are excited to officially welcome Rob to our leadership team as our new CFO," said Pieridae CEO Alfred Sorensen. "He did a stellar job in helping to secure the financing needed to close the transformational Shell asset acquisition. After helping to raise $10 billion to construct the North West Redwater refinery, Rob’s skill set is well-positioned to bring in the larger financing needed to build Pieridae’s Goldboro LNG Project.”
- Rob's appointment received traditional media play, please see the headlines below and click on 'read more' to view the stories:
- Pieridae Appoints New CFO - Daily Oil Bulletin
- Interim chief financial officer of Pieridae Energy moves to permanent role - LNG World News
- Pieridae appoints new CFO - LNG Industry
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Natural Gas World Nov 6, 2019 5:54:pm
Canada’s Pieridae Energy, which is developing the 10mn mt/yr Goldboro LNG project in the east coast province of Nova Scotia, said November 6 it has approved a “pre-final investment decision capital budget” of C$32mn (US$24.3mn) and an LNG development expense budget of C$16mn for 2020.
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Christian Schaudwet Der Tagesspiegel November 5, 2019
The Goldboro LNG project in Canada is to become a new source for Germany's gas supply. The German federal government has promised billions of dollars in loan guarantees, although liquefied natural gas is particularly controversial in terms of climate policy.
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Our company is featured in the October edition of Canadian Industry Online (CIO). CIO is Canada’s leading digital business magazine, showcasing the innovative practices, histories and strategies in Canadian business. Each issue is distributed Canada-wide to over 200,000 businesses in every major industry.
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Port Hawkesbury Reporter October 30, 2019
It seems that two liquified natural gas (LNG) projects targeted for the Strait area have travelled different directions.
The company behind the $10 billion Goldboro LNG project, Pieridae Energy Ltd., now owns all of Shell Canada’s midstream and upstream assets in the southern Alberta Foothills.
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Alfred had an interview with BNN”s Andy Bell for his Commodities Show. Andy has demonstrated an on-going interest in the Goldboro Project and how it has been advancing.
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This was a follow-up interview to a discussion Alfred had with Danielle in the summer of 2019. Danielle invited Alfred back to talk about Pieridae's Goldboro LNG Project and what the recent acquisition of all of Shell Canada's Alberta Foothills assets will mean to the project moving forward.
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As was the case back in late June when we announced the acquisition, Pieridae once again received high media interest as it closed the acquisition of all of Shell's Alberta Foothills assets, making Pieridae the largest Foothills producer in Canada and allowing it to acquire the majority of the gas needed to supply the first facility or train at the Goldboro LNG plant. Headlines of the coverage include:
- With Shell Deal Completed, Pieridae Secures Bulk of Gas for Goldboro LNG - Natural Gas Intelligence
- Pieridae Energy closes Shell Canada Foothills assets acquisition - LNG Industry
- Pieridae Energy closes acquisition of Shell's Foothills assets - Oilfield Technology
- Shell sells Caroline gas plant - Mountainview Gazette
- Canadian E. Coast LNG export plans progress with Pieridae's Shell deal - Reuters
- Pieridae acquires Shell Canada’s Alberta production assets for $144m - Hydrocarbons Technology
- PIERIDAE CLOSES ALBERTA GAS DEAL - AllNovaScotia.com
- Pieridae moves closer to first LNG export terminal on Canada's east coast - Seeking Alpha
- Pieridae Energy closes acquisition of Shell’s Alberta assets - LNG World News
- Pieridae acquires Shell gas for Goldboro LNG plant - Kallanish Energy
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Trade Wars: Ottawa's move a win for LNG firms who say Canada can't build the massive infrastructure they need, as domestic steel business tanks
National Post NAOMI POWELL & GEOFFREY MORGAN Updated: October 17, 2019
The noise pulsing throughout Supreme Steel’s fabrication plant in Delta, B.C., on a busy day is enough to pummel the ears. The clanging of iron, the blast of the Wheelabrator, the general din of steel being punched, sheared and burned into enormous structural components — some weighing as much as 300 tonnes — all signify the plant is operating at its peak.
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Brett Bundale Halifax-Chronicle Herald Oct 10 at 12:40 p.m.
How energy policy affects you
People are affected by the decisions surrounding energy in many ways, like billions in cost overruns at the Muskrat Falls hydroelectric project as well as attempts to harness tidal power in Nova Scotia or solar energy in Prince Edward Island. The success of such initiatives can impact the environment, the economy and/or your power bill. When the price of oil is strong, energy policy can power boom times.
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If this is David and Goliath, at the very least David has some pretty big rocks in his sling.
Nice word play on our TSX-V stock ticker (PEA) and a great piece of writing overall from the team at the Oil & Gas Investment Bulletin and editor Keith Schaefer.
Give the attached story a read as it details our flagship project: the US$10 billion Goldboro LNG initiative - opening up global markets for Canadian natural gas and creating and supporting thousands of jobs in Alberta, Nova Scotia and beyond.
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Download file
Pieridae Energy had the privilege to close the Toronto Stock Exchange today during Stampede week in Calgary.
“As former Alberta Premier and Calgary Mayor Ralph Klein said the Stampede symbolizes the province’s spirit,” Pieridae CEO Alfred Sorensen points out. “So it was special for us to share that spirit through the Toronto Stock Exchange and feature a company that is working to lay the groundwork for its own legacy.”
Link to YouTube video of Pieridae closing the markets
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The Financial Post's Geoff Morgan wrote an article following the Alberta Government's announcement that it was providing much needed and appreciated municipal tax relief to struggling upstream natural gas producers.
Pieridae Energy was contacted to comment on the Government's announcement, and also asked if anything more needs to be done to help the industry and stem the flow of bankruptcies.
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Since the deal to acquire Shell Canada's assets was announced June 26, media interest in the acquisition has been high. Headlines of the coverage include:
- Alfred Sorensen Finds Goldboro LNG Believers - AllNovaScotia.com
- Pieridae to Purchase Shell Canada’s Foothills-Area Production and Assets - Daily Oil Bulletin
- Pieridae Energy to buy Shell’s southern Alberta assets for $190-million as part of plan to build LNG plant in Nova Scotia - Globe & Mail
- Pieridae to buy Shell Canada gas assets for C$190 million - Reuters
- Pieridae Energy buying Shell Alberta natural gas assets to feed LNG plant - The Canadian Press
- Pieridae Energy plans to bring bounty of Alberta gas fields to Guysborough County for export - Halifax Chronicle-Herald
- Two LNG projects inch closer to final investment decision after key deals - The Financial Post
- Something B.C.'s Horgan and Alberta's Kenney can agree on — LNG - Calgary Herald
- Acquisition helps push Pieridae Energy toward FID on Goldboro LNG project - S&P Global Platts
- Shell deal gives Pieridae enough gas to start Goldboro LNG - Guysborough Journal
Click on the link below to read all of the coverage.
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Our CEO spoke with BNN's Andy Bell about Pieridae's acquisition of Shell Canada's Foothills assets. Alfred Sorensens told Bell the deal secures the remaining natural gas needed to supply the first facility or train for its Goldboro LNG export facility on Canada's East Coast. And, the acquisition moves Pieridae one step closer to making a final investment decision for the US$10 billion project, one that would create thousands of Canadian jobs and supply Europe and other global markets with clean-burning natural gas.
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Daily Oil Bulletin Jim Bentein – June 12, 2019
Developers of LNG projects in Canada, and the head of an LNG industry group, spoke optimistically on Tuesday about future LNG development, given the demand outlook. Pieridae CEO Alfred Sorensen is featured in the article and talked about how the company's Goldboro LNG Project will be a key player in supplying the global need for LNG.
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Pieridae's CEO Alfred Sorensen was featured on Danielle Smith's QR77 live radio show this morning where he talked about the prospects for LNG development in Canada, with a focus on Pieridae's US$10 billion Goldboro LNG Project. Goldboro is Canada's best bet for LNG development off the East Coast, where stranded Alberta gas would be shipped to an export facility in Nova Scotia, liquefied and sold to global markets, creating thousands of jobs in Alberta and Nova Scotia.
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By Jim Bentein Daily Oil Bulletin Friday, May 17, 2019, 7:56 AM MDT
Alberta natural gas producers should be hoping for a go-ahead for the Goldboro LNG export plant proposed for a site in Nova Scotia, says an executive with the company building it, since it would create a demand for their gas.
Martin Belanger, senior vice-president of project developer Pieridae Energy Limited, said although the company will control its own gas production, it will need other supplies.
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Our President and CEO Alfred Sorensen had the opportunity to engage with long-time business reporter Mario Toneguzzi of Calgary Business to talk about Pieridae Energy, its key Goldboro LNG project, and how development of the LNG export facility continues to move forward.
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CALGARY – While much of the Canadian oilpatch is waiting for a decision on an LNG project on the West Coast, Pieridae Energy Ltd. is on track to green light its $10-billion Goldboro LNG project in Nova Scotia as soon as next month.
“The next couple of weeks will be critical for the project,” Pieridae CEO Alfred Sorensen told the Financial Post, adding that he’s expecting a construction permit from Nova Scotia’s government and finalized agreements with contractors by the end of August.
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“Based on public disclosure from industry participants, we expect two Canadian liquefaction facilities - LNG Canada and Goldboro - to move past the FID stage in 2018. (...) The expected cost of the Goldboro facility is US$10.8B, with gas expected to be delivered via existing pipelines already in place that are under-utilized. A key advantage of the project is its location, which offers shorter shipping distances to Europe compared to projects in Qatar or the Gulf Coast.” Click here for full report.
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Pieridae Energy CEO Alfred Sorensen wants to build an LNG export facility in Nova Scotia that would cost more than US$7B. He may beat British Columbia to the punch. Click here to watch the interview.
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The name Pieridae Energy Ltd. may sound familiar to quite a few Nova Scotians, although they may not remember exactly where they’ve heard it before.
Pieridae Energy is one of three companies that have plans to develop a liquefied natural gas export facility at the Strait of Canso. More specifically, Pieridae wants to build its operation in Goldboro, Guysborough County, and now Pieridae is in the news again.
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For a ray of hope on the liquified natural gas file, it might be best to look east rather than west.
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Pieridae Energy Ltd, the company behind a proposed liquefied natural gas terminal on Canada's east coast, is looking to buy producing assets in western Canada or in the Marcellus shale play in the United States, its chief executive said on Monday.
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In a bid to raise billions of dollars on the equity markets for its Goldboro liquefied natural gas project, Pieridae Energy Ltd. is taking over a publicly-traded junior oil and gas exploration company. Read more
