Pembina Pipeline to Buy 50% Stake in Canada's Proposed Cedar LNG
(Reuters) — Pembina Pipeline Corp said on Tuesday it would buy a 50% stake in Canada's proposed Cedar LNG Project to develop the floating LNG facility in British Columbia in partnership with indigenous group, The Haisla Nation.

Pembina expects to invest about $90 million into Cedar LNG over the next 24 months, including costs to acquire its interest in the project as well as development costs prior to the final investment decision (FID).
The company, which will acquire the equity interests in Cedar LNG from PTE Cedar LP and Delfin Midstream Inc, will operate the project going forward. Haisla will own the remaining 50% stake.
Cedar LNG, which will have LNG liquefaction capacity of about three million tons per annum, lies within the traditional territory of the Haisla Nation and aims to provide liquefied natural gas to Asia-Pacific markets.
The estimated gross project cost of Cedar LNG is $2.4 billion, and the FID is expected in 2023.
The investment comes as investors have been pushing for clean energy alternatives to combat climate change. Demand for super-cooled LNG has surged in recent years as large, energy-consuming nations including China and India wean themselves off dirtier coal.
Demand is expected to keep hitting fresh highs, but three North American projects have stopped development in the past few months, as customers remain hesitant to sign long-term purchase agreements needed for financing.
Related News
Related News

- Energy Transfer Wins New York Court Ruling in $150 Million Pipeline Fraud Case
- $3 Billion Natural Gas Pipeline Expansion to Add 1.3 Bcf Capacity in Southeast Region
- Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
- Boardwalk Approves 110-Mile, 1.16 Bcf/d Mississippi Kosci Junction Pipeline Project
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Enbridge Should Rethink Old, Troubled Line 5 Pipeline, IEEFA Says
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
- Phillips 66 to Sell $865 Million Stake in 500-Mile Gulf Coast Express Pipeline to ArcLight
- NDT, Aramco to Launch 56-Inch Inspection Tool
Comments