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Goldboro LNG builder Pieridae proposes carbon capture and power project in Alberta

CALGARY — The company behind a proposed liquefied natural gas export facility in Nova Scotia is planning a power plant and carbon capture facility at its central Alberta natural gas processing plant that will help offset its LNG project’s future carbon emissions.

CEO Alfred Sorenson of Pieridae Energy Ltd. says its proposed Caroline Carbon Capture Power Complex resulted from research into ways that its Goldboro LNG project can achieve net-zero emissions status by 2050.

He says the project answers recent criticism in Nova Scotia that Pieridae doesn’t have a carbon emissions plan that would be acceptable to the European buyers of LNG it’s targeting.

Sorenson says details such as capital cost of the new project are lacking because a partner is deciding how big the natural gas-fired power plant will be and that will determine how much carbon can be captured and stored underground.

He says the potential partner — “a player on the power side” — is expected to officially join the project in two weeks, adding Pieridae’s announcement was made Thursday in part to coincide with its annual general meeting.

Sorenson says the project would be able to store up to three million tonnes of carbon per year, which is roughly equal to the amount of emissions to be produced from the LNG project. He says the power plant would produce as much as 900 megawatts if three proposed phases are built.

“Part of the reason why we wanted to make the announcement now is because it shows that we do have a carbon strategy that meets European needs for a carbon neutral LNG facility,” said Sorenson.

A final investment decision to proceed with Goldboro has been delayed several times.

This report by The Canadian Press was first published May 27, 2021.

Companies in this story: (TSX:PEA)

The Canadian Press

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