Pieridae Energy receives import and export licenses for Goldboro LNG project in Canada

Pieridae Energy has received approval from National Energy Board of Canada to import natural gas from the US and export liquefied natural gas (LNG) from the proposed Goldboro terminal in Nova Scotia.

The board has issued two long term licenses for the import and export, both for 20 years.

Pieridae Energy had submitted the application for the licenses on October 24, 2014.

"We're also on track to complete our supply acquisition this year, and each step brings us closer to our final investment decision."

The approval will allow the firm to process the natural gas imported from the US and supplied from Canadian sources at the Goldboro LNG facility and then export it as LNG to Europe and other countries.

While the export license allows for a maximum annual export capacity of 16.675 billion cubic meters (bcm), the import license has provision for a maximum annual import volume of 11.845 bcm.

In May this year, the firm had received authorisation from the US Department of Energy to export natural gas to Canada and also for further exports to countries with which the US has natural gas related free trade agreements.

E.ON Global Commodities has also signed a 20 year sales agreement with Pieridae for sourcing around five million tons of LNG annually from the Goldboro facility.

Pieridae president and CEO Alfred Sorensen said: "We're happy to have achieved another significant milestone for the Goldboro LNG development. We will continue to work with the National Energy Board and project regulators as we advance this project.

"We're also on track to complete our supply acquisition this year, and each step brings us closer to our final investment decision."

The firm is likely to make the final investment decision for the planned LNG project next year.

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