Goldboro LNG proposal; photo courtesy Pieridae Energy Ltd.
A liquid natural gas project set to be built in Guysborough County won’t be going ahead as planned.
The announcement came Friday in a release from the company in charge of the Goldboro LNG Project, Pieridae Energy.
Finances are to blame for the project being shelved, CEO of Pieridae Energy, Alfred Sorensen, told The Hawk in a telephone interview
“The project was ready to begin construction,” Sorensen said. “So, we were about be in a position to spend significant sums of money and the company didn’t have the capability to raise that money at the current time.”
The Goldboro LNG project would have seen gas imported to Guysborough County, where it would be processed, then exported to Germany.
Plans for the site included a natural gas liquefaction plant and storage and export facilities for liquid natural gas, including a marine jetty for loading.
The company has been trying to find a partner on the project for several years, said Sorensen, but it didn’t happen, and the company isn’t large enough to finance the project on its own.
While they’re disappointed the project won’t be going ahead as planned, Sorensen said they’ve had good support from the community.
Warden for the Municipality of the District of Guysborough, Vernon Pitts, says the MODG continues to build on their partnership with Pieridae.
“We can take comfort in the fact that there’s a commitment to pivot the project,” said Pitts.
The facility is located next to the Maritimes & Northeast Pipeline, a 1,400-kilometre transmission pipeline system built to transport natural gas between developments in Nova Scotia, Atlantic Canada and the northeastern United States.
Pitts noted, the pipeline and the site aren’t going anywhere and he doesn’t feel the project is a done deal.
“Our far as our council is concerned, our glass is still half full — it’s not half empty. And we’re looking forward to good things in the future,” Pitts said.
One alternative Pieridae is considering for the site is a scaled back, but similar project, Sorensen said.
Sorensen was reluctant to discuss alternatives in detail, as to not get any hopes up.
He said they hope to reach a decision on how to proceed by late fall.
