On April 4, 2024, Pembina Pipeline Corporation, in partnership with the Haisla Nation, has made substantial progress on the Cedar LNG project in Kitimat, British Columbia. They secured a 20-year liquefaction tolling agreement with ARC Resources Ltd. for 1.5 million tonnes per annum and issued a Notice to Proceed to EPC contractors Samsung Heavy Industries and Black & Veatch. This allows the commencement of project financing and equity contribution processes, aiming for a final investment decision by mid-2024. The project, with a US$3.4 billion capital cost estimate, will have an FLNG production unit under a fixed-price, lump-sum agreement. Expected to generate US$200 million to US$260 million in annual adjusted EBITDA for Pembina, the project highlights a strategic move into low-emission LNG production. Baker Botts L.L.P. and King & Spalding LLP served as legal advisors for commercial and EPC contracts, respectively. With all major regulatory approvals obtained, Cedar LNG targets to start service in late 2028, focusing on environmentally sustainable and economically beneficial outcomes for all stakeholders.