June 3, 2013 9:39 am

Pieridae Energy signs LNG deal for proposed project in Goldboro, NS

Steam rises from the Kawasaki natural gas power station in Kawasaki city, Kanagawa prefecture, south of Tokyo on August 25, 2011. Using LNG gas, the power station started operating April 2008 with a generation capacity of 847,400kW.

TOSHIFUMI KITAMURA/AFP/Getty Images
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HALIFAX – Pieridae Energy Canada says it has signed a 20-year agreement with a German utility company that would buy liquefied natural gas from a proposed project in Nova Scotia.

The deal would see E.ON Global Commodities SE purchase about five million tonnes of liquefied natural gas annually from a development that Pieridae has proposed for Goldboro, N.S.

Pieridae Energy says the cost of the liquefied natural gas would be based on market prices in the Western European market.

Company president Alfred Sorensen says the firm plans to submit an environmental assessment to Nova Scotia this year, with hopes of beginning construction of a liquefied natural gas terminal in late 2015.

Sorensen says if the plant proceeds, it would have the ability to export up to 10 million tonnes of natural gas annually.

He says the company is aiming to begin operations in 2020.

© 2013 The Canadian Press

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