The Pembina share would make them partners in the project with the Haisla Nation, with Pembina 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 (FID).
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's President and Chief Executive Officer, Mick Dilger, noted of their past work with the Haisla which led to today's announcement:
Pembina also operates a Liquid Propane Terminal in Prince Rupert on Watson Island, that facility went into operation earlier this spring.
For more on the Cedar LNG project see our archive page here.
Further notes on Pembina's Prince Rupert terminal can be found here.