SUN - Pembina Haisla Nation Reach FID on Cedar LNG Project | Benzinga
Pembina Pipeline Corporation (NYSE: PBA), a Canada-based energy transportation and midstream service provider and the Haisla Nation, partners in Cedar LNG Partners LP (Cedar LNG), have made a favorable Final Investment Decision (FID) on the Cedar LNG Project. This project involves the construction of a floating liquefied natural gas facility situated in the traditional territory of the Haisla Nation on West Coast of Canada. With a capacity of 3.3 million metric tons per year, the facility is set to become one of the lowest-emitting LNG facilities globally, powered by renewable electricity from BC Hydro.
Project Overview
Strategic Location and Infrastructure: Situated in British Columbia, the Cedar LNG Project leverages Canada's abundant natural gas reserves from the Western Canadian Sedimentary Basin. The project's strategic location at a deep-water port on the Douglas Channel ensures efficient access to global markets, particularly in Asia. This geographical advantage not only minimizes shipping distances but also utilizes existing infrastructure like the Coastal GasLink pipeline, optimizing operational efficiency.
Environmental Leadership: Cedar LNG is designed to be one of the world's lowest-emitting LNG facilities, setting a new benchmark for environmental sustainability in the industry. The facility will be powered by renewable electricity from BC Hydro, significantly reducing carbon emissions. This commitment to environmental stewardship aligns with global demands for cleaner energy solutions and reinforces Canada's role in the global clean energy transition.
Financial Structure and Investment
Project Financing: The Cedar LNG Project, with an estimated total cost of approximately $4 billion, is financed through a combination of debt and equity. Approximately 60% of the project cost is covered by asset-level debt financing, while the remaining 40% is funded through equity contributions. The Haisla Nation secured ...