The Haisla Nation and Pembina Pipeline Corporation intend before the end of March to take the final investment decision on their US$2.4 billion 3 million tonnes per annum Cedar LNG liquefied natural gas export project in Canada.

The Cedar LNG partners on Thursday confirmed the award of the US$1.5 billion lump sum engineering, procurement and construction contract for the state-of-the art floating LNG facility to Samsung Heavy Industries and Black & Veatch, subject to project sanction.

“This is a critical milestone on our path towards a FID for Cedar LNG, the first Indigenous majority-owned LNG project in the world,” said Cedar LNG chief executive Doug Arnell.

“We have secured world class FLNG expertise and look forward to working with SHI (Samsung) and Black & Veatch to build an LNG facility with one of the cleanest environmental profiles in the world that will usher in a new era of low carbon, sustainable LNG production.”

Cedar LNG now has major regulatory approvals, signed memoranda of understanding for long-term liquefaction services for the project’s total LNG capacity, and the final investment decision expected by the end of the first quarter 2024.

Subject to a positive final investment decision, onshore construction work for the project could start as early as the second quarter 2024, with the delivery of the FLNG and substantial completion expected in 2028.