August 3, 2023 – Cedar LNG elected to progress a second Front End Engineering Design (FEED) process for the floating LNG vessel in late 2022 and has been waiting for that work to progress to the same stage as the original FEED. In conjunction with detailed commercial discussions and ongoing negotiations between LNG Canada and Coastal GasLink, this has resulted in the anticipated final investment decision being revised to the fourth quarter of 2023.
Regulatory and Commercial Update:
On July 6, 2023, Cedar LNG received its LNG Facility Permit from the BC Energy Regulator. This is another major regulatory milestone that follows the receipt of the Environmental Assessment Certificate from the B.C. Environmental Assessment Office, a positive Decision Statement from the federal Minister of Environment and Climate Change, and a pipeline permit for the Cedar LNG Pipeline connection to the Coastal GasLink Pipeline. Collectively, these reflect the key permitting milestones for Cedar LNG.
In addition to the previously disclosed Memorandum of Understanding (MOU) with ARC Resources Limited, Cedar LNG has signed incremental non-binding MOUs with investment grade counterparties for long-term liquefaction services and is fully subscribed in relation to the project’s total capacity. Work towards the signing of definitive commercial agreements is ongoing.
About Cedar LNG
The Cedar LNG Project is a partnership between the Haisla Nation and Pembina Pipeline Corporation to develop a floating liquefied natural gas facility in Kitimat, British Columbia, Canada, within the traditional territory of the Haisla Nation. Strategically positioned to leverage Canada’s abundant natural gas supply and BC’s LNG infrastructure, Cedar LNG will be powered by renewable electricity from BC Hydro, making it one of the lowest carbon intensity LNG facilities in the world.
