Natural gas company sells N.S. land and construction permit for $12M

An Alberta-based energy company has closed the sale of its assets on Nova Scotia's Eastern Shore,where it had once envisioned building a natural gas export facility,opening the door for an Irish company to pursue a renewable energy project.

Pieridae Energy Ltd. announced the sale of its subsidiary, Goldboro, in a news release last week, revealing the $12-million price tag.

The sale includes 108 hectares of coastal property in the community of Goldboro in Guysborough County, and a construction permit granted by the Nova Scotia Utility and Review Board.

The transfer of the construction permit was approved by the boardearlier this monthand was made public after the company announced the sale.

Pieridae had been pursuing a natural gas liquefaction plant for more than a decade before it abandoned the idea last year. It wanted to pipe in natural gas from across North America, then ship it to Europe from its ownmarine terminal.

The company estimated it would export 10 million tonnes of liquefied natural gas per year.

After failing to attract nearly a billion dollars in support from Ottawa in 2021, Pieridae shelved the project, then put the assets up for sale last fall.

In its news release, Pieridae described the sale as a "strategic pivot away from the legacy of an integrated east coast LNG project." The company said it's renewing its focus on projects in its home province of Alberta.

The new owner

Pieridae sold to a Nova Scotia numbered company owned by Sam Roch-Perks, the co-founder and director of Irish-based Simply Blue Group.

According to the company's website, it's working on a "large-scale project" in Canada that will include a renewable energy park "used to produce clean fuels using an assortment of technologies."

The website says those fuels would in turn be used to produce bio-methanol, green hydrogen,green ammonia and sustainable aviation fuel alow-emissions fuel used to power commercial airplanes.

Simply Blue did not respond to CBC's request for an interview.

The Guysborough Journal reported that a Simply Blue spokesperson talked about its pursuits in Nova Scotia last month.

According to the Journal, Simply Blue said it wanted to start construction ofa facility in 2026 and start operations in 2029.

The permit to construct that was granted to Pieridaeexpires March31, 2025. It was granted specifically for a natural gas liquefaction plant, tanker terminal, power plant and marine jetty.

If Simply Blue, as the new permit holder, wants to modify those plans or extend the deadline, it will have to ask the review board for permission.

The Guysborough Journal quoted a Simply Blue spokesperson who said the company was eyeing Nova Scotia because of "excellent potential sites, deepwater marine facilities and government support in a stable country."

A spokesperson for the Department of Natural Resources and Renewablessaid the province has met with Simply Blue.

"The province is supportive of the development of a green hydrogen sector, and recognizes the promising opportunities associated with it," they said in an email.

They did not provide any specifics about how the department is supporting Simply Blue.