May 10 (LNGJ) - Pembina Pipeline Corp., the Canadian developer of the Cedar floating LNG project in the Douglas Channel of British Columbia with the Haisla First Nation, gave an update on the venture’s final investment decision plans as it posted increased first-quarter 2024 earnings of C$438 million (US$320M) versus C$369M in the 2023 quarter.
“Pembina recently announced significant achievements in the development of the proposed Cedar LNG project, including securing long-term commercial agreements and issuing a notice to proceed to its engineering, procurement, and construction contractors,” said Pembina. “Following these critical milestones Cedar LNG and Pembina's partner, the Haisla Nation, have commenced their respective financing processes in advance of a final investment decision, which is expected by June 2024,” stated Pembina.
