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Pieridae Energy Ltd has announced that its proposed financing of upstream activities within the Goldboro LNG project has received a written confirmation of eligibility in principle for up to US$1.5 billion of untied loan guarantee by the German federal government under its UFK programme (Bundesgarantien fr ungebundene Finanzkredite).
"We are extremely pleased with the additional support that Pieridae is eligible to receive from the German federal government in regard to the proposed Goldboro LNG facility and its integration.
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In 2014, Congress revised the CWSRF program by providing additional loan subsidies (including forgiveness of principal and negative interest loans) in certain instances (P.L. 113-121). In addition, the 2014 act increased the types of projects eligible for CWSRF assistance.
· This included the construction of a liquefied natural gas (LNG) plant, the synchronization of the grid with other EU countries, and that the nuclear project to be implemented “in accordance with the terms and conditions of financing and participation improved in cooperation with partners”.99 In April 2014, the Prime Minister said that the.
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At the same time, the German funding is also a major milestone in advancing the Goldboro LNG project towards a final investment decision, said Pieridae Energy. The prospective $1.5bn loan from the German government to Pieridae Energy adds to a similar confirmation of UFK eligibility it had made to offer a loan of up to $3bn for the proposed.
The company recently completed the Gorgon LNG project in Australia, which is very similar in size and scope to Goldboro. KBR has also been involved in virtually every proposed LNG project in Canada.
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GUYSBOROUGH – Pieridae Energy welcomed news this week that the company’s request for access to $1.5 billion more in loan guarantees from the German government for its Goldboro LNG project has been approved. Confirmation of Pieridae’s eligibility for the guarantee satisfies a "critical.