Cedar LNG awards EPC contract for state-of-the-art floating LNG production unit

KITIMAT, BRITISH COLUMBIA, Canada January 4 2024 – The Haisla Nation and Pembina Pipeline Corporation (Pembina) (TSX: PPL; NYSE: PBA), partners in the development of the proposed Cedar LNG Project (Cedar LNG), today announced Samsung Heavy Industries (SHI) and Black & Veatch have been selected to provide engineering, procurement and construction for the design, fabrication and delivery of the Project’s floating LNG production unit (FLNG), subject to a Final Investment Decision (FID).

“This is a critical milestone on our path towards a FID for Cedar LNG, the first Indigenous majority-owned LNG project in the world,” said Doug Arnell, Cedar LNG Chief Executive Officer. “We have secured world class FLNG expertise and look forward to working with SHI and Black & Veatch to build an LNG facility with one of the cleanest environmental profiles in the world that will usher in a new era of low carbon, sustainable LNG production.”

“Our role in helping Cedar LNG make history on this world-class facility aligns with our commitment to deliver a reliable and resilient global energy supply as a leader in the world’s energy transition,” said Mario Azar, Black & Veatch Chairman & Chief Executive Officer.

Cedar LNG now has major regulatory approvals, signed memorandums of understanding for long-term liquefaction services for the project’s total LNG capacity, and with the achievement of this milestone, the Project is at an advanced stage of planning and development with a FID expected by the end of the first quarter 2024.

Subject to a positive FID, onshore construction work for the project could commence as early as the second quarter 2024, with the delivery of the FLNG and substantial completion expected in 2028.

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. More information on Cedar LNG can be found at www.cedarlng.com.

About Haisla Nation

The Haisla Nation is the band government of the Haisla people. Our mission is to build a powerful, prosperous and proud community, healthy in mind, body and spirit. We believe in building a strong and thriving community, with healthy and happy members and a sustained and prosperous environment. We are about 1700 people, with the majority living in Kitamaat Village. We have lived off the land and waters of our traditional territory for thousands of years, and it remains the focus of all we do. We believe that careful and appropriate economic development will bring our people necessary self-sufficiency. Sustainable and realistic economic opportunities are increasingly available and promise benefits for our people – and for every British Columbian. We know that in order to attain strength and independence our Nation must work together – with government, business, the community, and internally – with a spirit of respect and partnership. For more information, visit www.haisla.ca.

About Pembina

Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America’s energy industry for more than 65 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, visit www.pembina.com.

Forward-Looking Statements

Certain information contained in this press release may be “forward-looking” in nature and is based on the Cedar LNG project partner’s current expectations, estimates, judgments and projections. All statements, other than statements of historical fact, which address activities, events or developments that the Cedar LNG project partners expect or anticipate may or will occur in the future, are forward-looking information. Forward-looking information typically contains statements with words such as “may”, “will”, “estimate”, “anticipate”, “believe”, “expect”, “plan”, “intend”, “target”, “project”, “forecast” or similar words suggesting future outcomes or outlook. The Cedar LNG project partners make no representation that actual results achieved will be the same in whole or in part as those set out in the forward-looking information. Furthermore, the forward-looking information contained herein is made as of the date hereof, unless otherwise noted, and the Cedar LNG project partners do not undertake any obligation to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise. Any forward-looking information contained herein is expressly qualified by this cautionary statement. 

For further information:

For media inquiries: media@cedarlng.com