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Pieridae Energy places Goldboro LNG on hold due to COVID-19

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LNG Industry,

Reuters is reporting that Pieridae Energy Ltd has delayed its decision to move forward with the construction of its Goldboro LNG export facility in Nova Scotia.

The company’s decision on the project has reportedly been delayed until 30 September 2020. This move to delay comes as a result of efforts to combat the COVID-19 coronavirus outbreak causing a decline in global energy demand and economic growth.

According to Reuters, Pieridae Energy previously said that it expected to take a final investment decision (FID) to build the $10 billion, 10 million tpy, project in 3Q20. This timeline would allow the company to start LNG production between November 2024 and May 2025.

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