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for Pieridae to free up cash collateral to
redeploy to help continue to grow the
company,” said Pieridae Chief Financial
Officer Rob Dargewitcz. “This facility from
EDC sends a strong signal to the market that
we continue to gain momentum and key
support for the company and its strategic
direction.”
EDC is a financial Crown corporation with
offices around the world. They are dedicated
to helping Canadian companies succeed on
the world stage while ensuring all projects and
possession facility provided by certain of its (LNG) export sectors. transactions they support are conducted in a
first lien term loan lenders. “This is an extraordinary project that not manner that is financially, environmentally
The Chapter 11 process will encompass a only connects a world-class resource basin to and socially responsible. This facility approval
comprehensive restructuring of the company. the Gulf Coast, a growing domestic demand announced today establishes the start of
Fieldwood entered into a restructuring centre, but also helps to meet international what is hoped to be a strong and ongoing
support agreement (RSA) with the support of demand for clean and reliable natural gas partnership with EDC.
key members of the company’s lender group, through US LNG export facilities,” said David PIERIDAE ENERGY, July 29, 2020
including holders of approximately two-thirds Slater, president and COO, DTE Midstream.
of the obligations under its first lien term loan “DTE Midstream has a reputation for safety First of its kind LNG-
facility. and timely project completion and the team
Fieldwood has filed a series of motions came through again – ahead of schedule and powered vehicle carrier
with the Bankruptcy Court which, when under budget. We would also like to thank
granted, are expected to enable the company Momentum Midstream for their help in calls JAXPORT
to maintain its operations as usual throughout completing the project in such unique times
the restructuring process. and acknowledge Indigo Resources, a top-tier This week the Jacksonville Port Authority
Mike Dane, the company’s senior producer that has helped make this project (JAXPORT) welcomed Siem Confucius, the
vice president and chief financial officer, possible.” world’s first vehicle carrier of its size operated
commented: “Today’s announcement reflects The LEAP gathering system was part of by cleaner, greener liquefied natural gas
the next step in our efforts to respond to DTE’s fourth quarter 2019 acquisition of (LNG).
the challenging market environment and Momentum Midstream’s Louisiana assets. The vessel arrived at JAXPORT from
Fieldwood’s liabilities. Over the last several LEAP is fully contracted under long-term, Veracruz, Mexico and unloaded factory-new
months, we have worked collaboratively with demand charge agreements. Current capacity Volkswagen Group of America cars and SUVs
numerous important stakeholders to evaluate is 1.0 bcf per day with significant economic at the port’s Blount Island Marine Terminal
our options and proactively manage our expansion capabilities. during its maiden voyage to the United States.
balance sheet. The transactions contemplated DTE MIDSTREAM, July 29, 2020 The 7,500-car-capacity Siem Confucius is
in our RSA to be implemented through the first of two new LNG-powered ships built
Chapter 11 represent the best course of action by Siem Car Carriers AS and commissioned
for Fieldwood and all our stakeholders and we DOWNSTREAM by Volkswagen Group of America. Siem Car
look forward to implementing this plan.” Carriers says the ships reduce carbon dioxide
FIELDWOOD ENERGY, August 04, 2020 Pieridae secures CAD6mn emissions by up to 25% and sulphur oxide
emissions up to 100%.
account security guarantee “Siem Confucius and its sister ship, Siem
MIDSTREAM Aristotle, are among the most modern and
eco-friendly ships serving the automotive
DTE Midstream’s 150-mile facility from Export industry today,” said Siem Car Carriers
Development Canada
President Jeffrey Campbell. “By investing
gathering system now Pieridae Energy is pleased to announce it has in world-class technology and maintaining
a modern and efficient fleet, we are able to
delivering to Gulf Coast received approval from Export Development reduce emissions and our overall carbon
Canada (EDC) for a CAD6mn guarantee
footprint, while delivering the world-class
DTE Midstream, a non-utility business of facility as part of EDC’s Account Performance service our customers have come to expect
DTE Energy, today announced that test gas Security Guarantee programme. The from Siem.”
is now flowing through its Louisiana Energy programme provides a 100% guarantee to “Northeast Florida is a global leader
Access Project (LEAP) gathering system, the issuing bank of certain of the company’s in the use of LNG as a preferred fuel type
which will be fully in service on August existing and future letters of credit. The APSG for the maritime industry,” said JAXPORT
1, 2020. The 150-mile, 36-inch gathering will allow Pieridae to release cash collateral CEO Eric Green. “Some of the world’s
pipeline connects Louisiana’s Haynesville requirements provided as security for certain most environmentally friendly vessels call
Basin to the growing Gulf Coast region where existing and potential future LCs. JAXPORT and we are proud to support
demand for natural gas is rapidly increasing in “We are very pleased to have this support these initiatives and do our part to make
the power, industrial and liquefied natural gas from EDC, as this is a significant opportunity the supply chain cleaner and greener for the

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