AIMCo vomits out more mego loss in bad oil patch investiging? Or, was the $120 million a gift from Premier Jason Kenney to Pieridae CEO Alfred Sorensen, on pensioners’ toil?
Others, such as Pieridae Energy, in which AIMCo has invested $120 million in debt and equity, are high-risk investments, says the report.
Comments to the article:
Pieridae claims in their YouTube clip that gas for the Goldboro LNG export terminal is coming from Alberta. I checked NEB’s gas pipeline network maps, and it appears that there is no gas pipeline connecting Alberta with Nova Scotia. So, Pieridae would need to build first a gas pipeline connecting the existing gas pipelines to ship gas to Nova Scotia. … I find it interesting that Pieridae does not seem to address this issue at all.
Obviously they are having significant problems attracting investment.
Pieridae to evaluate alternatives for proposed LNG export plant in Nova Scotia, Cites cost pressures and time constraints due to pandemic by Reuters, July 02, 2021, Calgary Herald
Canadian energy company Pieridae Energy Ltd. will evaluate options for its proposed Goldboro liquefied natural gas (LNG) export plant in Nova Scotia, as pandemic-led disruptions have made the current version of the project impractical.
The company said on Friday it had not been able to meet the key conditions necessary to make a final investment decision on the project.
It did not detail the alternatives it was exploring, but said there was still robust demand for the super chilled fuel from Europe and high global LNG prices.
“It became apparent that cost pressures and time constraints due to COVID-19 have made building the current version of the LNG Project impractical,” Pieridae said.
The pandemic had slashed demand for the fuel, forcing companies to delay final investment decisions on various LNG projects and hold back on capital spending in the uncertain environment.
Pieridae is one of more than a dozen North American LNG developers that have repeatedly pushed back decisions to start construction primarily due to a lack of long-term deals needed to finance the multi-billion dollar facilities.
Pieridae, however, has a 20-year agreement to sell the LNG from Goldboro’s first liquefaction train – about 5.2 million tonnes per annum (MTPA), or 0.68 billion cubic feet per day of natural gas – to German utility Uniper SE. Reportedly, that agreement “requires that any natural gas purchased not come from fracked natural gas supplies.” Most “natural” gas these days, is frac’d. Pieridae, the beggar, might be hooped ‘n pooped.
Pieridae has said engineering firm Bechtel Corp plans to deliver a fixed-price proposal to build the plant by the end of May. The project would employ about 3,500 workers during peak construction.
Refer also to:
Wood MacKenzie: No US LNG export projects expected in 2021, making it second year in a row facilities don’t get built as sponsors struggle to secure long-term contracts, Some projects may die
Racist Caveman Canada Frac Rape & LNG Pillage up next with Pieridae’s 5,000 worker camp 50 km from Paqtnkek First Nation? Women and children sacrificed to keep oil and gas polluting the world and CEO pockets bulging? Stop it! “Lead in Love” instead!
Letter by Paul Strome on “boondoggle” bizarre notoriously polluting Goldboro LNG scheme. “When you take a look at what Pieridae’s performance is on the stock market right now and how Pieridae has done for the past several years in the market you will understand my lack of faith in their ability to perform.”
Another “No Duty of Care” legally immune AER “shell” game to let big polluter Shell avoid clean up? Looks like it. AER gives Shell-Pieridae sour gas marriage a hearing
Thank you Dr. Anthony Ingraffea, for standing strongly against the public paying to clean up oil and gas industry’s world-wide polluting life-threatening leaking abandoned dirty laundry: “It’s the industry that drilled the well. It’s the industry that made money from the well. It’s the industry that was supposed to follow regulations for proper design, proper construction, proper maintenance and ownership of that well forever — and now they are saying let the taxpayers pay for it? No. No. The money has to come from the shareholders. The money has to come from the coffers of the oil and gas industry. They made the mess. They clean it up”
Hello Pieridae, Are you watching? Another LNG project bites the-damning-environmental-report dust
Is Pieridae going to threaten to SLAPP the Chronicle Herald too, for reporting on *public* information vital to the *public* interest?
Quebec Environmental Law Centre to aid Environnement Vert Plus and spokesperson, Pascal Bergeron, threatened with legal action by Pieridae Energy Ltd. for having shared *public* information vital to the **public interest** that the company wants kept secret even though it demanded nearly $1Billion from the public. Law centre Director Genevieve Paul: “This is akin to an attempted gag order that clearly aims to intimidate people who are mobilized.”
“Bad Corporate Citizen” Pieridae, after demanding nearly $1Billion of public’s money (during a pandemic no less) while promoting dubious Goldboro LNG in Nova Scotia, now threatens legal action to silence concerned citizens. Bradley Toms: “If there’s one way to show you’ve got bad intentions it’s threatening a SLAPP lawsuit against people who are just repeating things that you’ve said.”
“Polluter” Shell & “Penny Stock” Pieridae to retry their sour gas marriage, coached by AER, funded by “Loser” AIMCo. Stewart Shields: “Alberta Conservative gov’ts becoming recognized as the worst petroleum managers in the free world—as this story by the famous Andrew Nikiforuk describes so pointedly!!”
Look out Albertans whose pensions Kenney gave to AIMCo. Crazy Days in Alberta: The Poison Wells File. The province let oil and gas firms create a $100-billion disaster. New example? Shell Pieridae Briko Ikkuma Alberta Foothills Sour Gas Marriage financed by AIMCo and about $10Billion in liabilities.
All those promised millions of frac jobs: Just another Big Lie