DAILY NEWS Nov 5, 2012 11:16 AM - 0 comments

Liquefied NG exports explored in Nova Scotia

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November 5, 2012 2012-11-05

Calgary-based energy infrastructure firm Pieridae Energy Canada is examining the potential to liquefy natural gas (LNG) on Nova Scotia’s east coast and ship it overseas to markets in Europe and India.

Pieridae Energy Canada is looking for sources of gas that will be cooled, liquefied and exported by ship from the Guysborough County community of Goldboro, northeast of Halifax, in a venture that could cost up to $5 billion.

Company President Alfred Sorensen says his proposal calls for the storage and export of five million tonnes of LNG per year.

"We have the experience, expertise, financial resources, and access to supply and markets required for developing Eastern Canada's first LNG export facility," Sorensen said in an October 24, 2012 statement to media.

The massive LNG venture could employ up to 1,500 during its construction phase. About 100 workers would be needed for its operation, the company says.

The project could get underway by 2018, but must still clear environmental assessment hurdles, secure additional customers and find financing partners.

Sorensen formed the company just 18 months ago, but says four customers from utilities in northwestern Europe and India are already interested in signing on to the LNG proposal.

Sorensen said he will propose to the Maritimes and Northeast Pipeline that the company will purchase supplies of natural gas from shale gas projects in the Maritimes and the U.S., and then ship the gas through the pipeline to Goldboro.

The Maritimes and Northeast Pipeline runs 1,400 kilometres from Goldboro, to Dracut, Mass. It is used mainly to ship gas produced from the Sable Island Offshore Project to customers in Canada and the U.S.

Sorensen said he is hoping to have customer contracts in place by March 31, 2013.

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