Canadian company Pieridae Energy has secured financing of up to US$1.5bn for its 10 Mt/year liquefaction project in Goldboro, in Nova Scotia, on the East coast of Canada, from the German government’s UFK programme (Bundesgarantien für ungebundene Finanzkredite). The funds will be dedicated to the construction of Goldboro LNG's first 5 Mt/year liquefaction train and all associated facilities. The German UFK programme aims to enhance security of commodity supply and will help Pieridae Energy meet its contractual commitment with Uniper. In 2013, the project secured a 20-year LNG sale agreement with Uniper Global Commodities for 5 Mt/year of LNG from Goldboro LNG's first train.
The 10 Mt/year Goldboro LNG project will have on-site storage capacity of 690,000 m3 of LNG. The natural gas feeding the facility will be delivered via the existing Maritimes & Northeast Pipeline, located directly adjacent to the project. The US$10bn project could be commissioned in 2023 and its target markets are Europe and Asia.