The Haisla Nation and Pembina Pipeline Company, companions within the growth of the proposed Cedar LNG Undertaking, have introduced the signing of a heads of settlement (HoA) with Samsung Heavy Industries (SHI) and Black & Veatch.
The HoA supplies Cedar LNG, on an unique foundation with SHI and Black & Veatch, safe entry to shipyard capability to fulfill Cedar LNG’s goal industrial operations date. The events anticipate to finalise a lump sum engineering, procurement, and building settlement in December of this 12 months.
“This unique relationship with SHI and Black & Veatch to lock in shipyard capability for the development of the Cedar LNG FLNG vessel is a serious step ahead for our undertaking,” stated Doug Arnell, Cedar LNG CEO. “Via this settlement we’re accessing world class experience within the building and supply of floating LNG manufacturing vessels, which, along with renewable energy from the BC Hydro grid, will lead to an environmentally main, state-of-the-art facility for Cedar LNG, with one of many lowest carbon footprints on the planet.”
This settlement builds additional momentum for the Undertaking and follows receipt of all main regulatory approvals and the signing of memorandums of understanding for long-term liquefaction providers with funding grade counterparties for the Undertaking’s whole LNG capability.
Goal Closing Funding Choice (FID) continues to be by the top of 2023, nonetheless, given the complexity and sequencing of aligning the a number of work streams, that are required to facilitate Undertaking financing, FID might transfer into early 2024.
Learn the article on-line at: https://www.lngindustry.com/liquid-natural-gas/15112023/cedar-lng-execute-hoa-with-samsung-heavy-industries-and-black-veatch/
