Swiss trader Axpo signs LNG deal with Pieridae Energy

Swiss trader Axpo signs LNG deal with Pieridae EnergyImage courtesy of Pieridae Energy

Swiss trading company Axpo Group agreed a term-sheet with the Canadian LNG project developer Pieridae Energy to negotiate a sales and purchase deal for volumes from Goldboro LNG project in Nova Scotia. 

According to Axpo’s agreement, the trader is looking to agree the delivery of 2.5 million tonnes of the chilled fuel from the second train of Pieridae’s proposed Goldboro plant to the European markets.

The company said the term-sheet is a milestone in its strategy to build a longer term and a more diversified global LNG portfolio.

The contract is scheduled to begin from the start of commercial deliveries, currently estimated to be in the third quarter of 2023, and last for a 10-year period.

Pieridae noted in its statement that Axpo is the European buyer offtaker mentioned in its statement in May this year.

Domenico De Luca, head of Axpo Trading and member of the management board of Axpo Holding, said the deal further diversifies the company’s supplies and boosts its LNG ambitions.

“It supplements the current shorter-term focussed global LNG portfolio which last year physically supplied 1.2 mtpa,” he said.

The Goldboro LNG terminal project consists of an LNG processing facility, storage tanks and marine works located in Nova Scotia.

The facility is anticipated to produce approximately 10 million metric tons of LNG per year and have on-site storage capacity of 690,000 cubic meters of LNG.

Share this article

Follow LNG World News

Events>

<< Sep 2018 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

The Nineteenth CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

Singapore International Bunkering Conference and Exhibition (SIBCON)

The 20th edition of the Singapore International Bunkering Conference and Exhibition (SIBCON) will be about inspiring change…

read more >

CWC World LNG & Gas Series: 10th Asia Pacific Summit

Now in its tenth year, CWC World LNG & Gas Series: Asia Pacific Summit returns to Singapore on 16 – 18 October 2018…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event.

read more >