DOE authorizes Pieridae Energy to export U.S. natural gas

HALIFAX, Nova Scotia-- Pieridae Energy (Canada) Ltd. has announced that the U.S. Department of Energy has granted Pieridae Energy (U.S.) Ltd. long-term multi-contract authorization to export natural gas to Canada for end use in Canada and to export LNG produced from such natural gas from Canada to countries with which the U.S. has entered into a free trade agreement requiring national treatment for trade in natural gas.

The authorization, issued on May 22, was granted in response to an application by Pieridae Energy (U.S.) to export up to 292 Bcf per year of natural gas (0.8 Bcfd) via the Maritimes Northeast U.S. and Canada pipelines. The natural gas exported to Canada will be purchased by Pieridae and will then be processed at the proposed Goldboro LNG liquefaction facility in Goldboro, Nova Scotia, and exported as LNG to FTA countries.

In June 2013, Pieridae entered into a 20-year sales agreement with European-based E.ON Global Commodities SE, a subsidiary of one of the world's largest investor-owned power and gas companies, to deliver approximately five million metric tons per annum of LNG from the Goldboro LNG facility.

Pieridae's application to the Canadian National Energy Board (NEB) to import natural gas from the U.S. through the existing pipeline systems between Canada and the U.S. and to export LNG from Canada is pending.