05:01 PM EDT, 06/25/2024 (MT Newswires) -- The Haisla Nation and Pembina Pipeline ( PBA ) , partners in Cedar LNG Partners, after trade Tuesday announced a positive Final Investment Decision on the US$4.0-billion Cedar LNG Project, a floating liquefied natural gas facility with a nameplate capacity of 3.3 million tonnes per annum, located near Kitimat, British Columbia, in the traditional territory of the Haisla Nation, on Canada's West Coast.

According to a statement, the Project is "strategically positioned to leverage Canada's abundant natural gas supply and deliver a lower-carbon energy option to global markets". The facility will be powered by renewable electricity from BC Hydro, making it one of the lowest emitting LNG facilities in the world.

The project is expected to be in service in 2028.

Pembina shares rose $0.15 to $50.17 today, despite losses on the broader Toronto Stock Exchange.