Cedar LNG Announces Positive Final Investment Decision
06.26.2024 By Tank Terminals - NEWS

June 26, 2024 [Storage Terminals Magazine]- The Haisla Nation and Pembina Pipeline Corporation, partners in Cedar LNG Partners LP, have announced a positive final investment decision on the Cedar LNG Project. This floating liquefied natural gas facility, with a nameplate capacity of 3.3 million tonnes per annum, will be located in the traditional territory of the Haisla Nation on Canada’s West Coast.

 

“Together with our partner, the Haisla Nation, we are honoured to have made Cedar LNG a reality. This is a historic moment, and we are proud to be moving forward with a project that will deliver industry-leading, low-carbon, cost-competitive Canadian LNG to overseas markets and contribute to global energy security, while delivering jobs and economic prosperity to the local region,” said Scott Burrows, Pembina’s president and chief executive officer. “Cedar LNG aligns perfectly with our strategy and where we want to be as a company moving forward. The Cedar LNG Project will enhance the resiliency of Pembina’s business, provide much needed new egress and greater access to global markets for our customers, and reflects the Haisla Nation and Pembina’s shared values and commitment to supporting a more sustainable future.”

Doug Arnell, chief executive officer of Cedar LNG, added, “As a result of the Haisla Nation’s vision and determination, today we are demonstrating Canada’s ability to sustainably grow its LNG export sector to support the global clean energy transition. Moreover, the Haisla Nation and Pembina, as true partners, are demonstrating a new model for how industry and Indigenous communities can work together for mutual benefit.”

The Honourable David Eby, premier of British Columbia, commented, “This decision shows not only the perseverance of the Haisla Nation in achieving this historic milestone, but also confidence of investors in B.C.’s economy, and how the future for the natural resources sector is bright and will continue to support B.C.’s strong economic performance, which has led Canada’s large provinces in GDP growth since 2017. Cedar LNG is a shining example of how natural resource development should work in our province—in full partnership with First Nations and with the lowest emissions possible. By working together, we can build a stronger and cleaner economy that creates opportunities and benefits for all.”

 

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