Goldboro LNG export facility receives EA approval

Pieridae Energy (Canada) Ltd.

Pieridae Energy (Canada) Ltd. has received environmental assessment (EA) approval, with conditions, for the company's proposed Goldboro LNG project, as issued by the Honorable Randy Delorey, Minister of Environment for the Province of Nova Scotia. Goldboro LNG consists of a liquefied natural gas (LNG) processing plant and facilities for the storage and export of LNG, including a marine jetty.

An EA review panel appointed by the Minister of Environment conducted a Class Two Environmental Assessment, the province's most rigorous form of review. The Minister of Environment accepted the panel's recommendation to approve Goldboro LNG, with certain conditions, which include development of management plans related to air emissions, greenhouse gas, and wetlands; establishment of a fisheries advisory committee; continued operation of a community liaison committee; and the carrying out of additional studies, reports, monitoring and plans that were identified in the EA report and information request responses.

"With EA approval, we will now focus on front-end engineering and design," said Mark Brown, director of project development, Pieridae. "Throughout spring and summer 2014, we will be onsite in Goldboro, Nova Scotia, to carry out a number of studies that will assist with understanding project specific requirements."

Goldboro LNG will produce up to 10 million metric tonnes per annum of LNG per year and will have onsite storage capacity of 690,000 cubic meters of LNG. The company has submitted an application to the National Energy Board to import up to 1.0 billion cubic feet per day (Bcf/d) of natural gas through the existing pipeline systems between Canada and the US, and to export up to 1.4 Bcf/d of natural gas, as LNG, from Goldboro to international markets.

Current estimates value the capital expenditures of the project at US$8.3 billion. Pieridae will make its final investment decision in 2015 and, if the company decides to proceed, Goldboro LNG will be operational in 2020.



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