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Canada's Pembina Pipeline expects investment decision on Cedar LNG project in June
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Canada's Pembina Pipeline expects investment decision on Cedar LNG project in June
May 16, 2024 8:18 AM

May 16 (Reuters) - Pembina Pipeline Corp ( PBA ) said

on Thursday progress on its proposed $4 billion Cedar project

remains on track and a final investment decision (FID) is

expected in June on what would be one of Canada's first

liquefied natural gas export terminals.

Cedar, a joint venture between indigenous community Haisla

First Nation and Pembina, would produce 3.3 million tons of

liquefied natural gas (LNG) per annum after completion in 2028.

"We do have all key regulatory permits. Cedar financing has

been launched and is on target for that FID timing...We have

very well defined plans that have been completed and the

successful execution of cedar LNG is well on its way," Senior

Vice President and Corporate Development Officer Stuart Taylor

said.

Reuters reported earlier this month that Pembina was in

discussions with China's Sinopec about an offtake agreement from

the Cedar LNG project, located in Kitimat, British Columbia.

Canada is the world's sixth-largest natural gas producer,

but has been slow in building a strong LNG export industry

compared to other major gas-producing nations.

(Reporting by Nia Williams in British Columbia and Mrinalika

Roy in Bengaluru; Editing by Shinjini Ganguli)

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