Pembina Purchases a Half Stake in Cedar LNG

Journal of Petroleum Technology 

Pembina Pipeline will acquire a 50% stake in the proposed $2.4-billion Cedar LNG Project to develop the floating LNG facility in British Columbia in partnership with indigenous group, the Haisla Nation. The pipeline operator expects to invest about $90 million into Cedar LNG over the next 24 months, including costs to acquire its interest in the project as well as development costs prior to the final investment decision expected sometime in 2023. The company, which will acquire the equity interests in Cedar LNG from PTE Cedar LP and Delfin Midstream Inc., will operate the project going forward. Haisla will own the remaining 50% stake. Pembina has been busy of late.

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