Published on 11 Apr 2024 on Zacks via Yahoo Finance

Pembina (PBA) Discloses New Developments on Cedar LNG Project

Pembina Pipeline Corporation PBA, responsible for the development of the Cedar LNG project, has reported a significant cost increase for the project. The floating liquefied natural gas (FLNG) facility’s cost is now estimated to be $3.4 billion or C$4.61 billion.

The detailed Class III capital cost of the project includes US$2.3 billion for the FLNG production unit and US$1.1 billion for onshore infrastructure, owner’s costs, commissioning and start-up costs, financial assurances during construction and other costs.

The Cedar LNG project is located within Haisla Nation's traditional territory, in Kitimat, British Columbia. Previously, the estimated cost for the project came in at $2.4 billion. The project was initially expected to have a capacity of 3.0 million tons per annum (mtpa). However, the facility was later upgraded to have its nameplate capacity of 3.3 mtpa for enhanced project economics and efficient capital execution.