Cedar LNG, a partnership between the Haisla Nation and Canadian energy infrastructure company Pembina Pipeline, has revealed that a final investment decision (FID) for the Cedar LNG project has been put off until the middle of 2024 despite numerous achievements.
Cedar LNG said that a number of schedule-driven, interconnected elements require resolution prior to making a final investment decision, including binding commercial offtake, obtaining certain third-party consents and project financing.
To note, Cedar LNG aims to develop a floating LNG facility in Kitimat, British Columbia, Canada, within the traditional territory of the Haisla Nation.
Strategically positioned to leverage Canada’s natural gas supply and BC’s LNG infrastructure, Cedar LNG will be powered by renewable electricity from BC Hydro, making it one of the lowest carbon intensity LNG facilities in the world, according to the partnership.
Cedar LNG has completed several key project deliverables, including obtaining material regulatory approvals, advancing inter-project agreements with Coastal GasLink and LNG Canada and signing a heads of agreement with Samsung Heavy Industries (SHI) and Black & Veatch.
Furthermore, at the beginning of 2024, Cedar LNG announced the execution of a lump-sum engineering, procurement and construction (EPC) agreement with SHI and Black & Veatch, with Doug Arnell, Cedar LNG CEO, calling it “a critical milestone on our path towards a FID for Cedar LNG.”