In The NewsPieridae extends key deadlines with Uniper

May 06, 2020

Pieridae, Uniper Extend Key Deadlines in LNG Agreement
Daily Oil Bulletin Tuesday, May 5, 2020, 6:52 AM MDT

Pieridae Energy Limited has negotiated extensions of the key deadlines under its 20-year agreement with German energy company Uniper Global Commodities.

These include expected commercial deliveries of gas to Uniper to start between Aug. 31, 2025 and Feb. 28, 2026; and the extension to June 30, 2021 of the deadline to make a positive final investment decision (FID) for the company’s proposed Goldboro LNG facility.

The 20-year agreement with Uniper is for the liquefied natural gas produced at Goldboro Train 1 or 4.8 million tonnes per annum (mtpa).

Pieridae recently said that as a result of a depressed market and COVID-19 impacts, a FID for its Goldboro LNG project will be delayed beyond Sept. 30, 2020.

“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.

“We remain focused on progressing work with KBR to deliver a fixed price contract to build the gas liquefaction facility. Pieridae has begun to contract for services outside the primary engineering, procurement and construction contract with the intent to begin the site preparation work as soon as possible. Some of these activities include building the wharf and jetty, road reconstruction, and constructing the work camp.

“Over the last several weeks we have seen projects in Australia, Africa and the Gulf Coast either cancelled or delayed indefinitely due to the challenging energy market. We believe this is an opportunity for Canada to enter into this industry at a time when others are exiting. Our Goldboro LNG project is fundamentally sound‎ and with fewer competing projects, now is the time to proceed.”

Pieridae and Uniper extend key Goldboro LNG deadlines
Will Owen, Assistant Editor LNG Industry, Wednesday, 06 May 2020 10:00

Pieridae Energy Ltd has announced it has negotiated extensions of key deadlines under its 20-year agreement with German energy company Uniper Global Commodities.

These extended deadlines include expected commercial deliveries of gas to Uniper to start between 31 August 2025 and 28 February 2026; and the extension to 30 June 2021 of the deadline to make a positive final investment decision (FID) regarding the company’s proposed Goldboro LNG facility. The 20-year agreement with Uniper is for the LNG produced at Goldboro Train 1 or 4.8 million tpy.

“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.

“We remain focused on progressing work with KBR to deliver a fixed price contract to build the gas liquefaction facility. Pieridae has begun to contract for services outside the primary engineering, procurement and construction contract with the intent to begin the site preparation work as soon as possible. Some of these activities include building the wharf and jetty, road reconstruction and constructing the work camp.

“Over the last several weeks we have seen projects in Australia, Africa and the Gulf Coast either cancelled or delayed indefinitely due to the challenging energy market. We believe this is an opportunity for Canada to enter into this industry at a time when others are exiting. Our Goldboro LNG Project is fundamentally sound and with fewer competing projects, now is the time to proceed,” concluded Sorensen.

Pieridae Energy and Uniper extend Goldboro LNG deadlines
Hydrocarbons Technology May 6, 2020

Canadian oil and gas exploration firm Pieridae Energy has negotiated extensions to the key deadlines of its long-term deal with German firm Uniper for the planned Golboro liquefied natural gas (LNG) export project in Nova Scotia, Canada.

This development follows Pieridae’s announcement last month that it would be postponing a final investment decision (FID) to build the Goldboro LNG export plant due to the effects of the coronavirus pandemic.

The project site is located 7km away from the Meadow Lake, which will facilitate the water supply for the LNG terminal.

Pieridae has a 20-year agreement with Uniper for LNG produced at the first Goldboro liquefaction train.

The first train will have a capacity of approximately 4.8 million tonnes per annum (Mtpa).

Pieridae CEO Alfred Sorensen said: “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.

“Pieridae has begun to contract for services outside the primary engineering, procurement and construction contract with the intent to begin the site preparation work as soon as possible. Some of these activities include building the wharf and jetty, road reconstruction, and constructing the work camp.

“Over the last several weeks we have seen projects in Australia, Africa and the Gulf Coast either cancelled or delayed indefinitely due to the challenging energy market. We believe this is an opportunity for Canada to enter into this industry at a time when others are exiting.”

In October last year, Pieridae acquired Shell Canada’s midstream and upstream assets in the Alberta Foothills area for C$190m (approximately $144m).

Pieridae Gets Extensions on Gas Deliveries, Goldboro LNG
Bertie Melinda Taylor| Rigzone Staff| Wednesday, May 06, 2020

Pieridae Energy Ltd. has negotiated extensions tied to deadlines under its 20-year agreement with German energy company Uniper Global Commodities.

These include commercial deliveries of gas to Uniper scheduled to begin between Aug. 31, 2025 and Feb. 28, 2026; and the extension to June 30, 2021 for the deadline to make a positive final investment decision for the proposed Goldboro LNG facility.

The 20-year agreement with Uniper is for the liquefied natural gas produced at Goldboro Train 1 or 4.8 million tonnes per annum.

“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,” Pieridae CEO Alfred Sorensen said in a written statement.

“We remain focused on progressing work with KBR to deliver a fixed price contract to build the gas liquefaction facility. Pieridae has begun to contract for services outside the primary engineering, procurement and construction contract with the intent to begin the site preparation work as soon as possible. Some of these activities include building the wharf and jetty, road reconstruction, and constructing the work camp.

“Over the last several weeks we have seen projects in Australia, Africa and the Gulf Coast either cancelled or delayed indefinitely due to the challenging energy market. We believe this is an opportunity for Canada to enter into this industry at a time when others are exiting. Our Goldboro LNG Project is fundamentally sound‎ and with fewer competing projects, now is the time to proceed,” concluded Sorensen.

Calgary-based Pieridae is focused on developing integrated energy-related activities, from the exploration and extraction of natural gas to the development, construction and operation of the Goldboro LNG facility and producing LNG for sale to Europe and other markets.

Pieridae, Uniper extend deadlines on Goldboro LNG project
Kallanish Energy May 7, 2020

Pieridae Energy and German energy company Uniper Global Commodities have agreed to extend key deadlines on a proposed liquefied natural gas (LNG) liquefaction and export facility in eastern Canada, Kallanish Energy reports.

Expected commercial deliveries from Goldboro LNG in Nova Scotia to Uniper are expected to begin between Aug. 31, 2025, and Feb. 28, 2026.

A final investment decision on the project is expected by June 30, 2021.

Uniper signed a deal with Pieridae to purchase 4.8 million tonnes per year of LNG

Pierdae has signed a 20-year agreement with the German utility Uniper worth about $35 billion and the German government has said the project is eligible for loan guarantees.

“Our relationship with Uniper remains strong and we very much appreciate their on-going support,” said Pieridae CEO Alfred Sorensen in a statement.

Site preparation work will begin “as soon as possible,” he said. That would include building the wharf and jetty, road reconstruction and constructing the work camp.

“Over the last several weeks we have seen projects in Australia, Africa and the Gulf Coast either cancelled or delayed indefinitely due to the challenging energy market. We believe this is an opportunity for Canada to enter into this industry at a time when others are exiting. Our Goldboro LNG Project is fundamentally sound‎ and with fewer competing projects, now is the time to proceed,” Sorensen said.

The LNG facility at Goldboro, Nova Scotia, northeast of Halifax, is designed to produce 10 million tons per year of LNG to be shipped to Europe and other markets. It would process about 1.3 billion cubic feet of natural gas per day.

It is fully permitted.

About 3,500 workers would be involved in the construction.

Pierdae acquired natural gas assets in Alberta when it merged last year with Ikkuma Resources Corp. The gas would be shipped east via pipelines to Nova Scotia.

The company could also acquire natural gas from the Appalachian Basin in the United States.

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