“If any of the three gets a positive FID (final investment decision), our forecast numbers will go totally out of whack. July 3, 2018 CNG/LNG, Exporting, Industrywide Issues. In 2012 Pieridae Energy announced it planned to develop a two train 10 million ton per annum LNG plant and associated facilities. Pieridae Energy Ltd. is targeting the milestone known as a final investment decision after having lined up buyers for the fuel, mainly in Europe. Comments. A $7.5 billion liquefied natural gas project in East Canada focused on Europe is seeking to get the go-ahead this year. FID is in the Oil & Gas and Petrochemical industry the acronym of Final Investment Decision. A European sales contract deadline for a firm construction commitment by the proposed first Canadian east coast natural gas export terminal, Goldboro LNG, has been postponed until the end of September 2020. toward construction. On Thursday the company announced a “pre-FID” capital budget of $32 million for 2020, and a development expense of $16 million for the Goldboro LNG project. The pre-development work is complete and a final investment decision expected by the end of 2018 or early 2019 with production by 2022. Kellogg Brown & Root (KBR) has secured a contract from Pieridae Energy for the proposed Goldboro LNG facility in Nova Scotia, Canada. The 20-year agreement with Uniper is for 5 million tonnes per annum of LNG, half of the plant’s expected first phase capacity. This FEED work should be completed in 2015, allowing Pieridae to make the final investment decision (FID) for the Goldboro LNG project in following with the target to ship the first LNG carrier from Nova Scotia to E.ON in Europe by 2020. Canadian Goldboro LNG Inches Toward Final Investment Decision. Goldboro LNG Developer Pieridae Doubles Output with Alberta Purchase from Shell. For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer Kellogg Brown & Root Ltd. is completing cost estimates for the project, one of the last missing pieces before Sorensen and his team can make a final investment decision on Goldboro LNG. That decision could come by the end of the year, he said. “We expect to be able to make a final investment decision by the end of this year.” ... As for the Goldboro LNG project, it’s just getting started. GUYSBOROUGH – Gas supply was long thought to be the main challenge for the proposed Goldborog LNG project, followed by the $8-$10 billion price tag to build the facility. But as Pieridae Energy inches closer to a final investment decision, the remaining challenges relate to government regulations. 'Optimistic' Pieridae to make investment decision on Goldboro LNG by June. Fuelled by expectations of a ten-times increase in its net operating income, Pieridae Energy plans to invest to advance its proposed Nova Scotia LNG project to a final investment decision next year. We can’t build in that positive FID and the impact on employment until we know that the project is going forward.” The Goldboro LNG project would consist of a natural gas liquefaction plant, storage tanks and marine works. FID must not be confused with FEED which is another acronym commonly used also in the Oil & Gas and Petrochemical industry and stands for Front End Engineering and Design. “These extensions allow us to complete the work needed to make a final investment decision for the Goldboro project,” said Pieridae Chief Executive Alfred Sorensen. The Goldboro LNG export facility in Nova Scotia continues its march (shuffle?) But first, the company has to finalize supply and transportation issues, and deal with greenhouse gas emissions after that. Pieridae Energy is optimistic it will build a liquefied natural gas plant in Guysborough County, N.S., starting sometime next year. KBR will also perform a necessary open-book estimate to enter a lump sum turnkey engineering, procurement and construction (EPC) contract for the facility, which will produce ten million tonnes a year of LNG.