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    PEA Globe says Pieridae boss worries about LNG red tape


    June 29, 2022 - Canada StockWatch

     

      Pieridae Energy Ltd (TSX:PEA)

      Shares Issued 157,707,632

      Last Close 6/28/2022 $1.28

      Wednesday June 29 2022 - In the News

      The Globe and Mail reports in its Wednesday edition that Pieridae Energy is considering a revival of its plan to build a terminal in Nova Scotia to export liquefied natural gas to Germany, but cautions that Canadian regulatory hurdles could delay any LNG proposals on the East Coast.The Globe's Brent Jang writes that Pieridae cited high costs and other constraints, such as supply-chain problems caused by the COVID-19 pandemic, when it suspended plans for its Goldboro LNG project last summer.Since the invasion of Ukraine four months ago, Europe is scrambling to reduce its dependence on natural gas from Russia. "You can see what's happening in Europe," Pieridae chief executive officer Alfred Sorensen told The Globe on Tuesday as he announced a new feasibility study for exporting LNG to Germany. "The world has changed a lot."Prime Minister Justin Trudeau met on Monday with German Chancellor Olaf Scholz at the G7 summit in Germany. Canada and Germany have been discussing LNG opportunities, including Pieridae's export project at Goldboro, N.S., and Repsol SA's Saint John LNG terminal in New Brunswick.Pieridae hopes to make a final investment decision as early as mid-2023, with exports to Germany starting 2028.

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