📋 Tender Overview
The proposed floating LNG (FLNG) facility in Kitimat, British Columbia, is a partnership between Haisla Nation and Pembina Pipeline.
The LNG plant is set to be one of the lowest-carbon-intensity LNG facilities in the world as it will be powered by renewable electricity. Due for completion in 2028, the US$4 billion Cedar project is expected to produce 3million tpa of LNG.
the project will be funded 40% by equity and 60% by debt, with 20% of the equity coming from partners Haisla Nation and Pembina.
Additional funding for the project includes a CAN$1.5 billion five year term loan, earmarked for a pipeline that will link the Cedar terminal to the adjacent Shell-led Kitimat project.
The financing consortium for Cedar LNG is expected to comprise at least 15 banks, although Cedar LNG has not confirmed the exact number or the precise timing for the investment decision.
The project's developers had initially targeted a mid-2024 decision.
The proposed facility has already delineated future LNG offtake agreements with Pembina and ARC Resources.
In April 2024, Baker Hughes secured a contract to provide electric-driven liquefaction technologies to the Cedar LNG project. The order includes main refrigeration compressors, boil-off gas compressors and centrifugal pumps, all powered by renewable electricity.
