Expansion project build on Pembina's existing infrastructure to provide
cost-effective, timely solution to meet industry infrastructure
demand in northwest Alberta.
(All financial figures are approximate and in Canadian dollars
unless otherwise noted.)
CALGARY, March 7, 2013 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is
conducting an open season to determine industry interest in a
future expansion of its crude oil, condensate and natural gas
liquids ("NGL") pipelines in northwest Alberta (the "Expansion Project").
Should Pembina proceed with the Expansion Project, the resulting
services and facilities are expected to be in-service following the
completion of the recently announced Phase II expansions, subject
to regulatory and environmental approvals.
The Expansion Project would evaluate increasing throughput
capacity on Pembina's pipeline
systems in northwest Alberta.
Interested parties will have the opportunity to submit non-binding
nominations for all, any one, or any other combination of the
commodities currently transported by Pembina (including, high sulphur crude, sweet
crude, condensate, propane plus and ethane plus) at existing and
potential future receipt points on the Peace, Northern and
Swan Hills pipeline systems.
"Increased production from the Duvernay, Cretaceous, Montney, Deep Basin and Swan Hills areas has resulted in significant
demand for additional transportation services in Alberta" said Mick
Dilger, President and Chief Operating Officer "The
additional pipeline capacity would allow industry to access the
markets on a competitive and cost-effective basis."
Oil and gas producers continue to deploy advanced technologies
to unlock significant liquids-rich natural gas reserves in the
areas served by Pembina's
infrastructure. Over the past several years, demand for throughput
on the Company's pipelines in northwest Alberta has increased. Pembina's recent announcements include two
separate expansions designed to significantly increase NGL and
crude oil/condensate throughput capacity on its Peace and Northern
Pipeline Systems by an additional 200,000 bpd, which demonstrates
Pembina's commitment to delivering
on the services industry requires. As production climbs near
Pembina's infrastructure, demand
for the above-mentioned projects is anticipated to outpace these
capacity increases, creating the potential need for additional
transportation services complementary to those projects already
announced.
In order to participate in the open season, parties must have
executed and delivered a confidentiality agreement and non-binding
nominations to Pembina by
April 30, 2013 at 5:00pm MT. For additional information on
the open season, visit www.pembina.com.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for nearly 60 years. Pembina owns and operates: pipelines
that transport conventional and synthetic crude oil and natural gas
liquids produced in western Canada; oil sands and heavy oil pipelines; gas
gathering and processing facilities; and, an oil and natural gas
liquids infrastructure and logistics business. With facilities
strategically located in western Canada and in natural gas liquids markets in
eastern Canada and the U.S.,
Pembina also offers a full
spectrum of midstream and marketing services that span across its
operations. Pembina's integrated
assets and commercial operations enable it to offer services needed
by the energy sector along the hydrocarbon value chain.
Pembina is a trusted member of
the communities in which it operates and is committed to generating
value for its investors by running its businesses in a safe,
environmentally responsible manner that is respectful of community
stakeholders.
Pembina provides monthly cash
dividends to its shareholders. Pembina's common shares and convertible
debentures are traded on the Toronto Stock Exchange under the symbols PPL,
PPL.DB.C, PPL.DB.E and PPL.DB.F respectively. Pembina's common shares are traded on the New
York Stock Exchange under the symbol PBA.
Forward-Looking Statements & Information
This document contains certain forward-looking statements and
information (collectively, "forward-looking statements") within the
meaning of the "safe harbor" provisions of applicable securities
legislation that are based on Pembina's current expectations, estimates,
projections and assumptions in light of its experience and its
perception of historical trends. In some cases, forward-looking
statements can be identified by terminology such as "expects",
"projects", "will", "anticipates", "could", "potential" and similar
expressions suggesting future events or future performance.
In particular, this document contains forward-looking
statements, including certain financial outlook, pertaining to,
without limitation, the following: Pembina's corporate strategy; the construction
schedule and planned capacity of the Peace Pipeline crude and
condensate expansion projects; the construction schedule and
planned capacity of the Peace and Northern Pipeline NGL expansion
projects; the ongoing utilization and expansions of and additions
to Pembina's business and asset
base, growth and growth potential; expectations regarding future
demand for transportation services; expectations regarding supply
and demand factors and pricing for oil and natural gas; potential
revenue and cash flow enhancement; and future cash flows,
maintenance and operating margins. These forward-looking statements
and information are being made by Pembina based on certain assumptions that
Pembina has made in respect
thereof as at the date of this document including those discussed
below.
With respect to forward-looking statements contained in this
document, Pembina has made
assumptions regarding, among other things: ongoing utilization and
future expansion, development, growth and performance of
Pembina's business and asset base;
future demand for transportation services; future levels of oil and
natural gas development in proximity to Pembina's pipelines and other assets (which
could be affected by, among other things, possible changes to
applicable royalty and tax regimes); the amount of future
liabilities related to environmental incidents; the availability of
coverage under Pembina's insurance
policies (including in respect of Pembina's business interruption insurance
policy); future acquisitions, growth and growth potential in
Pembina's operations; potential
revenue and cash flow enhancement; future cash flows; maintenance
of operating margins; additional throughput potential on additional
connections and other initiatives on the Conventional Pipelines
systems; expected project start-up and construction dates; future
dividends and taxation of dividends; future financing capability
and sources; and negative credit rating adjustments.
Although Pembina believes
the expectations and material factors and assumptions reflected in
these forward-looking statements are reasonable as of the date
hereof, there can be no assurance that these expectations, factors
and assumptions will prove to be correct. Readers are cautioned
that events or circumstances could cause results to differ
materially from those predicted, forecasted or projected. By their
nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements and
information.
None of the forward-looking statements described above are
guarantees of future performance and are subject to a number of
known and unknown risks and uncertainties, including, but not
limited to: the impact of competitive entities and pricing;
reliance on key industry partners, alliances and agreements; the
strength and operations of the oil and natural gas production
industry and related commodity prices; the continuation or
completion of third- party projects; regulatory environment and
inability to obtain required regulatory approvals; tax laws and
treatment; fluctuations in operating results; lower than
anticipated results of operations and accretion from Pembina's business initiatives; reduced
amounts of cash available for dividends to shareholders; the
ability of Pembina to raise
sufficient capital (or to raise capital on favourable terms) to
complete future projects and satisfy future commitments, including
the construction and commissioning of the Saturn and
The forward-looking statements contained in this document
speak only as of the date of this document. Pembina does not undertake any obligation to
publicly update or revise any forward-looking statements or
information contained herein, except as required by applicable
laws. The forward-looking statements contained in this document are
expressly qualified by this cautionary statement.
SOURCE Pembina Pipeline Corporation