Page 11 - GLNG Week 12 2022

GLNG NEWS IN BRIEF GLNG

AMERICAS approximately 5,000 highly skilled Canadians “We have transformed as a company in
currently employed at its Kitimat site, the the past year following the completion of our
LNG Canada announces project is delivering substantial economic strategic review and the suspension of the
benefits to British Columbia and to Canada.
Goldboro LNG project,” said Pieridae’s chief
change in CEO The cumulative value of its contracts and executive officer, Alfred Sorensen. “Pieridae
subcontracts to local, Indigenous and other
has adjusted its strategy to one of focusing on
LNG Canada Development, a Shell- businesses to date exceeds $3.6bn, and building the upstream side of our business,
PETRONAS-PetroChina-Mitsubishi includes $2.8bn to Indigenous-owned and while maintaining optionality for an LNG
Corporation-KOGAS joint venture, local area businesses. project. We believe there is great value in
announced today that Peter Zebedee has “On behalf of Shell, I thank Peter for his developing our Foothills assets, holding one
decided to step down as Chief Executive efforts to get the facility’s major construction of the largest land bases in the area, and
Officer, effective March 29, to pursue efforts underway and well past the halfway we will work to demonstrate that it is an
opportunities outside of the organisation and mark,” said Shell plc CEO Ben van Beurden. economic place to drill. The potential start of
that of its joint venture participants. “Peter helped create a culture of excellence, our 2022 drilling programme, projected for
One of the largest private investments in respect and commitment to safety that will the second half of the year, would bring on
Canadian history, LNG Canada is a long-life endure through the remaining period of new production, help fill up our gas plants,
asset with a 40-year export license that will construction and 40 years of safe, clean, and lower per-unit operating costs and increase
initially produce and export LNG from two reliable LNG production and export.” revenue. We also know we must lower debt
processing units or “trains” totalling 14mn Steve Corbin, LNG Canada’s executive financing costs and develop and execute a
tonnes per annum (mtpa). It reached a final project director, will serve as interim CEO carbon management plan which is aligned
investment decision in October 2018 and until Mr. Zebedee’s successor is announced. to our environmental, social and governance
is currently under construction in Kitimat, Mr. Corbin has more than 35 years of (ESG) vision.
British Columbia, in the traditional territory progressive experience overseeing the “While we continue to believe that an
of the Haisla Nation. successful development and execution of LNG project at our Goldboro site could be an
Mr. Zebedee was named LNG Canada several notable complex, multi-billion-dollar economically compelling and nation building
CEO in June 2019, having served in various energy projects in Canada and around the opportunity, what Pieridae needs in order
senior capacities with Shell in Alberta, world. to continue development of the project is a
Canada. Under his leadership, LNG Canada LNG CANADA DEVELOPMENT, March 22, 2022 commitment of support from the government
completed engineering work, began major of Canada that this initiative is a national
construction activities and reached major Pieridae releases Q4 and priority. If it is deemed to be, then pipeline
milestones at its low-carbon liquefied natural capacity to transport the gas to the East Coast
gas (LNG) facility, including the construction 2021 results would need to be worked out. We must find
of its large LNG tank and roof raise, and an investment partner and also hope the
the delivery and installation of large LNG Pieridae Energy released its 2021 financial Mi’kmaq remain involved as partners so that
infrastructure. and operating results today, highlighted by they might share in the benefits of a future
The LNG Canada project is now year-over-year growth in adjusted funds flow project,” concluded Sorensen.
approaching the 60% completion mark from operations (up 115% to CAD57.7mn) PIERIDAE ENERGY, March 24, 2022
and remains on track to deliver its first and a 66% increase in net operating income to
cargo by the middle of this decade. With CAD84.1mn.
EUROPE
Port of Zeebrugge joins

SEA-LNG coalition, adding

expertise in European LNG

port infrastructure

SEA-LNG, the multi-sector industry coalition
established to demonstrate LNG’s bene?ts
as a viable marine fuel, today announces
the membership of Port of Zeebrugge, the
innovative seaport of Bruges which has been
at the cutting-edge of LNG bunkering for
decades.
The Port of Zeebrugge has pioneered the
development of LNG bunkering in Europe,
with the world’s first purpose-built LNG
bunkering vessel – the Engie Zeebrugge (now
Green Zeebrugge) – commencing operations
there in June 2017.

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