Cedar LNG Secures Exclusive FLNG Shipyard Deal with Samsung and Black & Veatch
(P&GJ) — Pembina Pipeline and Haisla Nation, partners in the development of the proposed Cedar LNG Project, have signed an exclusive agreement with Samsung Heavy Industries and Black & Veatch for shipyard capacity. Final engineering, procurement, and construction agreement expected in December.
“This exclusive relationship with SHI and Black & Veatch to lock in shipyard capacity for the construction of the Cedar LNG FLNG vessel is a major step forward for our project,” Doug Arnell, Cedar LNG CEO, said. “Through this agreement we are accessing world class expertise in the construction and delivery of floating LNG production vessels, which, together with renewable power from the BC Hydro grid, will result in an environmentally leading, state-of-the-art facility for Cedar LNG, with one of the lowest carbon footprints in the world.”
This agreement builds further momentum for the Project and follows receipt of all major regulatory approvals and the signing of memorandums of understanding for long-term liquefaction services with investment grade counterparties for the Project’s total LNG capacity.
Target Final Investment Decision (FID) continues to be by the end of 2023, however, given the complexity and sequencing of aligning the multiple work streams, which are required to facilitate Project financing, FID may move into early 2024.
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