MediaIn The News

  • 2020/04/16 – Media Coverage of Q4 2019 & Year-End Results

    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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  • 2020/01/29 – Concerns About Pieridae’s Financial Viability ‘Overdone,’ Conference Hears

    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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  • 2019/12/13 – Media Coverage of Pieridae 2020 Guidance

    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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  • 2019/12/11 – Fighting climate change with Canadian energy

    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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  • 2019/12/06 – Western Canadian Gas, European Demand Are Key Elements For LNG Projects In Eastern Canada

    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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  • 2019/11/28 – Varcoe: 'Window of opportunity' opens for Canada's LNG industry

    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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  • 2019/11/25 – Not by Gazprom Alone? How Germany's Embracing LNG in a Bid to Reduce Dependence on Russian Gas

    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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  • 2019/11/12 – Pieridae Appoints a New Chief Financial Officer

    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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  • 2019/11/05 – Opportunities for LNG from Canada Increase

    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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  • 2019/11/04 – Canadian Industry Online: Pieridae Energy Feature

    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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  • 2019/10/30 – A Tale of Two LNG Projects

    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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  • 2019/10/24 – BNN Bloomberg Interview: Pieridae CEO Alfred Sorensen Talks About Goldboro LNG Progress

    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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  • 2019/10/23 – The Danielle Smith Show: Feature Interview with Pieridae CEO Alfred Sorensen

    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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  • 2019/10/17 – High Media Interest as Pieridae Closes Shell Asset Acquisition

    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 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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  • 2019/10/17 – Steel plants fear being shut out of big LNG projects after Ottawa's 'bizarre' tariff exemption on China steel

    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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  • 2019/10/10 – ENERGY: How and when Atlantic Canada curbs greenhouse gas emissions is fiercely contested

    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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    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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  • 2019/07/04 – After 'band aid' tax relief, Alberta plans more support for embattled gas producers

    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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  • 2019/07/03 – High media interest in Pieridae's purchase of Shell's Alberta Foothills assets

    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 -
    • 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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  • 2019/06/27 – Pieridae CEO Alfred Sorensen Discusses Shell Asset Acquisition with BNN

    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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  • 2019/06/14 – LNG/Natural Gas Proponents Optimistic About Outlook

    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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  • 2018/08/14 – Financial Post - Pieridae Energy close to proceeding with $10-billion LNG project in Nova Scotia next month

    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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  • 2018/07/30 – The Field Of Dreams: Canadian LNG

    “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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  • 2018/01/22 – Forget B.C. — Pieridae Energy may be first big LNG exporter

    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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  • 2017/10/26 – Goldboro LNG developer Pieridae goes public

    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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  • 2017/05/23 – East Coast LNG moving faster than West Coast

    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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  • 2017/05/17 – Pieridae seeking natural gas acquisitions: CEO

    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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  • 2017/05/15 – Pieridae Energy ​merges with junior exploration company

    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