Cedar LNG executes head sof agreement with Samsung Heavy, Black & Veatch

The Haisla Nation and Pembina Pipeline Corporation (PBA) announced the signing of a heads of agreement with Samsung Heavy Industries (SSNLF) and Black & Veatch. The HOA provides Cedar LNG, on an exclusive basis with SHI and Black & Veatch, secure access to shipyard capacity to meet Cedar LNG’s target commercial operations date. The parties expect to finalize a lump sum engineering, procurement, and construction agreement in December of this year. “This exclusive relationship with SHI and Black & Veatch to lock in shipyard capacity for the construction of the Cedar LNG FLNG vessel is a major step forward for our project,” said Doug Arnell, Cedar LNG Chief Executive Officer. “Through this agreement we are accessing world class expertise in the construction and delivery of floating LNG production vessels, which, together with renewable power from the BC Hydro grid, will result in an environmentally leading, state-of-the-art facility for Cedar LNG, with one of the lowest carbon footprints in the world.” This agreement builds further momentum for the Project and follows receipt of all major regulatory approvals and the signing of memorandums of understanding for long-term liquefaction services with investment grade counterparties for the Project’s total LNG capacity.