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    PEA   CA7207861021

PIERIDAE ENERGY LIMITED

(PEA)
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Delayed Toronto Stock Exchange  -  04:00 2022-08-17 pm EDT
1.180 CAD    0.00%
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Exclusive-Canada sees Repsol LNG as fastest way to boost gas supply to Europe

06/30/2022 | 01:19pm EDT
FILE PHOTO: A private security boat circles near a tanker carrying liquefied natural gas in the Mediterranean, some 10 kilometers from Hadera

OTTAWA (Reuters) - Canada's East Coast has only enough natural gas supply to accommodate one new liquefied natural gas (LNG) export facility, and the project that would boost shipments to Europe the fastest is Repsol's, Canada's environment minister told Reuters.

In May, Canada said it was in talks with Spanish company Repsol's LNG facility in New Brunswick and Pieridae Energy, which has proposed building an LNG facility in Nova Scotia, about increasing exports to Europe.

"The amount of gas that is available would be available only for one facility at this point," Environment Minister Steven Guilbeault said in an interview late on Wednesday, adding that the idea of constructing new gas pipelines in Canada was not "very realistic".

"Repsol is probably the fastest project that could be deployed because it requires minimal permitting - there's already an existing facility, (and a) gas line is right there," Guilbeault said.

The vast majority of Canada's natural gas is produced in the western provinces of Alberta and British Columbia.

Europe is seeking to diversify its energy supplies as it pivots away from Russian oil and gas after the invasion of Ukraine. Canada's foreign minister said on Wednesday talks had taken place with its European allies, including Spain and Germany, about increasing its East Coast exports.

(Reporting by Steve Scherer, additional reporting by Isla Binnie in Madrid; editing by Barbara Lewis)

By Steve Scherer


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 0.53% 93.74 Delayed Quote.20.13%
PIERIDAE ENERGY LIMITED 0.00% 1.18 Delayed Quote.280.65%
REPSOL S.A. 0.36% 12.66 Delayed Quote.21.31%
S&P GSCI NATURAL GAS INDEX -0.01% 432.5312 Real-time Quote.149.62%
WTI 0.61% 88.206 Delayed Quote.15.49%
All news about PIERIDAE ENERGY LIMITED
08/11Pieridae releases q2 2022 results
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08/10TRANSCRIPT : Pieridae Energy Limited, Q2 2022 Earnings Call, Aug 10, 2022
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08/10Pieridae - pipeline steam release
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08/10Pieridae Energy Limited Reports Earnings Results for the Second Quarter and Six Months ..
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08/10Pieridae Energy Limited Revises Production Guidance for the Year 2022
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08/10Pieridae Energy Limited Revises Earnings Guidance for the Year 2022
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08/10Pieridae Energy Limited Reports Production Results for the Second Quarter of 2022
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07/12Pieridae to Hold Conference Call and Webcast on Q2 2022 Results
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06/30Exclusive-Canada sees Repsol LNG as fastest way to boost gas supply to Europe
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05/30Pieridae Announces Voting Results Report Following Its Annual and Special Shareholder M..
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Financials
Sales 2022 - - -
Net income 2022 - - -
Net Debt 2022 199 M 154 M 154 M
P/E ratio 2022 -
Yield 2022 -
Capitalization 187 M 145 M 145 M
EV / Sales 2022 -
EV / Sales 2023 -
Nbr of Employees 270
Free-Float 74,5%
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 1,18 CAD
Average target price 1,00 CAD
Spread / Average Target -15,3%
Managers and Directors
Alfred B. Sorensen Chief Executive Officer & Director
Darcy Reding President & Chief Operating Officer
Adam Gray Chief Financial Officer
Myron Arthur Tétreault Director
Charles Boulanger Independent Director
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