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

- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- TC Energy’s North Baja Pipeline Expansion Brings Mexico Closer to LNG Exports
- Consumers Energy Begins 135-Mile Michigan Gas Pipeline Upgrade, Taps 600 Workers
Comments