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Pieridae negotiates extensions with Uniper

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LNG Industry,

Pieridae Energy Ltd. has announced it has negotiated extensions of the key deadlines under its 20-year agreement with German utility Uniper.

These include expected commercial deliveries of gas to Uniper to start between 30 November 2024 and 31 May 2025; and the extension to 30 September 2020 of the deadline to make a positive financial investment decision (FID) for the company’s proposed Goldboro LNG facility. The 20-year agreement with Uniper is for half the LNG produced at Goldboro or 5 million tpy.

A redacted copy of the agreement and a copy of the recent amendment are available on SEDAR which have been filed as ‘other material contracts’ and ‘other material contacts (amended)’, respectively.

“These extensions allow us to complete the work needed to make a final investment decision for the Goldboro Project,” said Pieridae CEO Alfred Sorensen. “We continue to have ongoing discussions with KBR that will ultimately lead to finalised designs and fixed costs for the project. We expect the vast majority of that work to be completed near the end of 2019, which will move us closer to FID.”

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