Pieridae to buy Shell Canada oil and gas assets for C$190 mln
26/06/2019 22:01
By Nia Williams
CALGARY, Alberta, June 26 (Reuters) - Canada's Pieridae
Energy PEA.V will buy oil and gas assets in Alberta from Royal
Dutch Shell RDSa.L for C$190 million ($144.77 million),
Pieridae said on Wednesday, securing supply for its planned
liquefied natural gas plant in eastern Canada.
The deal will consist of all of Shell's midstream and
upstream assets in the southern Alberta Foothills area, which
produce 29,000 barrels of oil equivalent per day, including 119
million cubic feet per day of gas.
It will enable Pieridae to secure the remaining supply
needed for the first phase of its proposed Goldboro LNG plant in
Nova Scotia. If it goes ahead Goldboro will be Canada's first
east coast LNG project, producing 10 million tonnes per annum.
urn:newsml:reuters.com:*:nL1N21K0FJ
"Not only does this deal help us secure the remaining
conventional natural gas supply needed for the first train of
the Goldboro LNG project, it makes Pieridae a major player in
the Alberta midstream and upstream industry," said Pieridae
Chief Executive Alfred Sorensen.
Shell and its partners are building Canada's first LNG
export terminal in northern British Columbia, but the company
has scaled back operations elsewhere in the country, including
in Alberta's oil sands. urn:newsml:reuters.com:*:nL1N21119M
($1 = 1.3124 Canadian dollars)
(Reporting by Nia Williams; Editing by Tom Brown)
((nia.williams@thomsonreuters.com; +1 403 531 1624; Reuters
Messaging: nia.williams.thomsonreuters.com@reuters.net))