Haisla Nation and Pembina Pipeline achieve
historic milestones for Canada's first Indigenous majority-owned
LNG facility
The Haisla Nation and Pembina Pipeline Corporation ("Pembina")
(TSX: PPL; NYSE: PBA), partners in the development of the proposed
Cedar LNG Project ("Cedar LNG" or the "Project"), are pleased to
announce that Cedar LNG today has received its Environmental
Assessment Certificate ("EAC") from the B.C. Environmental
Assessment Office, and has signed a Memorandum of Understanding
("MOU") with ARC Resources Ltd. ("ARC") for a long-term
liquefaction services agreement.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230314005935/en/
Cedar LNG is a proposed floating liquified natural gas ("LNG")
facility located on Haisla Nation-owned land in Kitimat, B.C. with
the capacity to export three million tonnes per year of LNG. It is
strategically positioned to leverage Canada's abundant and
sustainable natural gas supply and deliver a lower-carbon energy
option to global markets.
"The receipt of our EAC is the culmination of more than a decade
of work by the Haisla Nation and marks a significant milestone for
the Cedar LNG project and the Haisla Nation's journey towards
economic self-determination," said Crystal Smith, Chief Councillor
for Haisla Nation. "With Cedar LNG, we are setting a new standard
of responsible and sustainable energy development. Together with
our partner, Pembina, we are committed to advancing an LNG project
that protects the environment, respects Haisla Nation values, and
meets the highest standards of social and environmental
responsibility."
"Cedar LNG will benefit Pembina and its customers, the Haisla
Nation, and all of Canada, while meaningfully contributing to the
transition to a lower-carbon economy," said Scott Burrows,
Pembina's President and Chief Executive Officer. "Pembina is proud
of its long history of safe and reliable operations, and we look
forward to contributing our expertise as we work together to bring
Canadian LNG to the world."
Cedar LNG made several innovative design decisions to minimize
the Project's environmental footprint and ensure it is one of the
lowest-emitting LNG facilities in the world. One of the most
important decisions was to power the facility with renewable
electricity from BC Hydro. In addition, the choice of site location
allows the Project to leverage existing LNG infrastructure,
including the Coastal GasLink pipeline, with which Cedar LNG has a
long-term transportation agreement, a deep-water port, roads, and
other infrastructure.
Cedar LNG also received its first permit from the BC Energy
Regulator for the approximately 8.5 kilometre pipeline that will
connect the Project into the Coastal GasLink pipeline.
Critical to Cedar LNG's success to date has been the strong
support of neighbouring Nations. Years of collaboration and
constructive engagement with these Nations have helped to ensure
the Project will be designed, constructed, and operated
responsibly, while providing benefits through construction jobs and
contracting, training opportunities, long-term employment, and
other measures that will contribute to economic prosperity in the
region.
Commercial Update
Cedar LNG has entered into an MOU for a 20-year liquefaction
services agreement with ARC Resources. The parties are working
towards finalizing a definitive agreement for 1.5 million tonnes of
LNG per year, equivalent to approximately 200 million standard
cubic feet per day of natural gas, or approximately half of Cedar
LNG's production.
"We are pleased to partner with Cedar LNG on this important
infrastructure project for Canada. Through responsible development,
innovation, and collaboration, we can advance the export of more
Canadian energy to global markets," said Terry Anderson, President
and Chief Executive Officer, ARC Resources. "This agreement is an
important step forward in delivering our low-cost, low-emission
natural gas to key demand markets, and increasing ARC's exposure to
LNG-linked natural gas prices."
"We are pleased to have ARC Resources as Cedar LNG's first
customer. ARC's asset quality, leading ESG performance and
financial strength, are important attributes in an LNG partner and
will help drive our project forward," said Doug Arnell, Cedar LNG
Chief Executive Officer. "In the coming months, we will be focused
on advancing work across four critical streams – engineering,
regulatory, commercial discussions, and financing so that we are
well positioned to deliver a project the Haisla Nation, Pembina,
British Columbia, and the rest of Canada will be proud to
showcase."
Cedar LNG continues to progress commercial discussions with
other potential customers, all of which are investment grade
counterparties, for long-term volume commitments.
A final investment decision for the Project is anticipated in
the third quarter of 2023.
Learn more about Cedar LNG here:
https://youtu.be/S3vb_L6DXJE.
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
B.C.'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.
About ARC Resources
ARC Resources Ltd. is a pure-play Montney producer and one of
Canada's largest dividend-paying energy companies, featuring
low-cost operations and leading ESG performance. ARC's
investment-grade credit profile is supported by commodity and
geographic diversity and robust risk management practices around
all aspects of the business. ARC's common shares trade on the
Toronto Stock Exchange under the symbol ARX. For more information,
visit www.arcresources.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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230314005935/en/
For further information: Media Inquiries media@cedarlng.com
Investor Relations (403) 231-3156 1-855-880-7404
investor-relations@pembina.com www.pembina.com
Pembina Pipeline (NYSE:PBA)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025
Pembina Pipeline (NYSE:PBA)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025
