11:38 AM EDT, 06/14/2024 (MT Newswires) -- (Updates prior report with comments, additional information by Cedar LNG about project timing in first, third paragraphs)

Pembina Pipeline ( PBA ) and its partner in a proposed $4 billion liquified natural gas export facility in British Columbia are expected to make a final investment decision within the next two weeks, a spokesperson for the Cedar LNG project told MT Newswire late Thursday.

The June 30 timetable matches the schedule outlined earlier this spring by Cedar LNG, which said at the time it expected a final investment decision by mid-year.

Roughly 60% of the $4 billion project would be financed with debt, with the Haisla First Nation and Pembina splitting the 40% equity contribution, Cedar LNG said in an email message.

Representatives for Pembina Pipeline ( PBA ) and the Haisla Nation did not immediately return messages from MT Newswires seeking comment on Thursday.

Cedar LNG April 4 said it issued a notice-to-proceed to engineering, procurement and construction contractors after signing a fixed toll agreement with ARC Resources (ARX.TO) for 1.5 million tons per year of natural gas. Pembina signed an identical bridging agreement with Cedar LNG for 1.5 million tons of annual capacity, the companies said.

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