Pembina Pipeline Corp 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)