From Discovery to Delivery: A Fully Integrated LNG Infrastructure Company

Founded in 2011, Pieridae Energy is developing a fully integrated LNG infrastructure business covering the entire LNG value chain, from exploration and production of natural gas to the development and operation of an LNG export terminal - Goldboro LNG - opening up world markets for Canadian natural gas.

Pieridae is Canada’s only independent, fully-integrated LNG company looking to build the US$10 billion Goldboro LNG project to supply much needed natural gas to the globe

Goldboro is construction ready

We own low-cost reserves to supply the facility

We will leverage a low cost of capital to build the LNG terminal and gas production base

Pieridae has strong access to international markets

We appreciate our continued community, labour and First Nations support

Read more about the company

Pieridae:
Doing Business The Right Way

Pieridae conducts its every operation in a socially, environmentally and fiscally responsible manner.

The company and its employees are committed to giving back to the communities in which it lives and work.

It also committed to adopting and implementing environmental stewardship strategies that minimize its ecological footprint, thus ensuring the best possible future for all Canadians.

Pieridae’s every action are guided by a fair and strict code of business ethics focusing on honesty, ethics and accountability in all our dealing with our business partners, investors, government entities and the general public.

Read more about our commitments

Latest Press Releases

  • 2020/09/29 – PIERIDAE ENGAGES EPCC CONTRACTOR BECHTEL

    Bechtel Brings a High Level of LNG Experience & Expertise

    CALGARY, ALBERTA – September 29, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to announce that it has signed a services agreement with respected global engineering firm Bechtel related to Pieridae’s 2-Train Goldboro LNG Facility. Some of the key deliverables in the services agreement are:

    Initiating a detailed review of the scope and design of the Goldboro LNG Facility and developing a comprehensive engineering, procurement, construction and commissioning (“EPCC”) execution plan by March 31, 2021;

    Delivering a final lump sum, turnkey EPCC contract price proposal by May 31, 2021; and

    Conducting a meaningful engagement with the Nova Scotia Mi’kmaq First Nations including their participation in the construction of a large-scale work camp at the LNG site.

    “This is a very positive step forward for our Goldboro LNG Project,” said Pieridae CEO Alfred Sorensen. “Bechtel has significant experience building and delivering global LNG projects, helping their customers deliver about 30% of the world’s LNG capacity over the past two decades. They have a proven track record of delivering projects throughout the world on time and on budget.

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  • 2020/08/26 – PIERIDAE HIRES EXPERIENCED SVP TO LEAD ITS GOLDBORO LNG PROJECT

    CALGARY, ALBERTA – August 26, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to announce it has engaged veteran LNG industry professional Andy Mukherjee P.Eng. as Senior Vice-President LNG to lead the development of its multi-billion-dollar Goldboro LNG Project. Mr. Mukherjee has worldwide expertise in front-end engineering and design; detailed engineering, procurement, contracts, construction, and commissioning (“EPCC”); including module fabrication and construction related to mega LNG projects and oil and gas in North America and overseas.

    Mr. Mukherjee officially joins Pieridae August 27, 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. “Andy has worked on modular design and execution of four major global LNG projects: Qatargas NFE LNG, Cameron LNG, INPEX-Ichthys LNG and British Gas QCLNG. His contribution to modularization in Canada is well recognized, and, he has significant exposure to major module yards in Asia.

    “I have every confidence Andy will lead Goldboro LNG through the open book estimate and deliver a lump sum turnkey EPCC contract for the Project to prepare us for a positive final investment decision next year,” concluded Sorensen.

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  • 2020/08/12 – PIERIDAE ANNOUNCES SECOND QUARTER RESULTS

    Solid Results During Ongoing Pandemic & Challenging Market Conditions

    Highlights:

    • Revenue of $68.6 million in Q2 2020, an increase of $55.2 million or 412% compared to Q2 2019
    • Net operating income[1] (“NOI”) increased by $21.2 million or 1,101% compared to Q2 2019
    • Adjusted Funds Flow From Operations1 (“AFFO”) increased by $19.0 million or 291% compared to Q2 2019
    • Q2 2020 average production was 43,791 barrels of oil equivalent per day (“boe/day”), an increase of 28,423 boe/day or 185% compared to Q2 2019

    CALGARY, ALBERTA – August 12, 2020 - Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) released its Q2 2020 results today, highlighted by the fact the Company continues to deliver solid results quarter after quarter, achieving strong metrics in overall revenue, NOI, AFFO and daily production. Pieridae's unaudited condensed interim financial statements and MD&A are available on our website at www.pieridaeenergy.com and are filed on SEDAR at www.sedar.com.

    “We achieved these strong results through our positive hedging strategy, limiting non-essential capital and operating spending and taking active steps to reduce administrative costs,” said Pieridae’s Chief Executive Officer Alfred Sorensen. “As a result of the Alberta Foothills asset acquisition, revenue was up more than 400% year over year on a Q2 basis, production climbed 185%, and we continued to operate our assets safely and reliably.

    “I am also pleased to report that we have reached a resolution with KBR following its earlier announcement that it was no longer prepared to negotiate and conclude a lump sum turnkey engineering, procurement, construction and commissioning (“EPCC”) contract for our Goldboro LNG Facility,” added Sorensen. “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.”

    [1] NOI and AFFO are non-IFRS measures. They do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. See pages 20 and 21 in the Company’s Q2 2020 MD&A.

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