Calgary-based Pieridae Energy is considering using a near-shore floating liquefied natural gas vessel to boost the commerciality of its proposed Goldboro LNG project in eastern Canada.
The company was aiming to sanction an onshore LNG plant at Goldboro, Nova Scotia earlier this year based on a facility with a capacity of 10.2 million tonnes per annum.
However, chief executive Alfred Sorensen declared in July that this onshore scheme was “impractical” after receiving a cost estimate from Bechtel, which had earlier replaced KBR as the proposed construction contractor when the latter withdrew from the engineering, procurement and construction market.
Since then, Pieridae has been working with Peters & Co to identify a way forward on the stalled project, as part of a strategic review of the company as a whole, with a near-shore FLNG solution now on its radar.
Sorensen earlier this month said: “We are in the midst of a detailed analysis of a potential floating LNG project.”
He said this solution “would produce net-negative greenhouse gas emissions, provide a bridge fuel to countries eager to switch from coal-fired to natural gas-fuelled power facilities, provide an opportunity for indigenous reconciliation and create much-needed jobs in Atlantic Canada and Alberta".
Pieridae has a swathe of gas assets in Alberta that would provide much of the feedstock for the proposed LNG facility, with gas sent to the east coast mainly via existing pipeline systems.
Production from these fields averaged about 191 million cubic feet per day in the third quarter of this year.
A company presentation suggested this FLNG technology is “proven", adding that its Goldboro proposal would involve turbines power by renewable energy.
Pieridae said the capital costs of this solution are “substantially” less than the former Goldboro LNG scheme and that “a healthy rate of return is projected".
The company has identified Germany as a potential LNG offtaker.
Caroline CCS plan
This FLNG concept is part of Pieridae’s net zero by 2050 target.
Another element of this agenda is based on a planned carbon capture and storage plant at its Caroline gas complex in Alberta, with a capacity of 3 million tpa.