UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2014
Commission File Number: 001-35563
PEMBINA PIPELINE CORPORATION
(Name of registrant)
3800, 525 –
8th Avenue S.W.
Calgary, Alberta T2P 1G1
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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PEMBINA PIPELINE CORPORATION |
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Date: October 9, 2014 |
By: |
/s/ Scott Burrows |
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Name: Scott Burrows |
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Title: Vice President, Capital Markets |
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Form 6-K Exhibit Index
Exhibit
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Document
Description |
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99.1 |
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News Release Dated October 9, 2014 - Pembina Pipeline Corporation Reveals Plans for Diluent Terminal Development
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Exhibit 99.1
Pembina Pipeline Corporation Reveals Plans for Diluent Terminal
Development
CALGARY, Oct. 9, 2014 /CNW/ - Pembina Pipeline Corporation
("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) today announced plans to proceed with construction of the
Canadian Diluent Hub ("CDH"), a large-scale condensate and diluent terminal at its Heartland Terminal site near Fort
Saskatchewan, Alberta.
The initial phase of CDH development is estimated to cost
$350 million and will include 600,000 barrels of above ground storage, multiple inbound and outbound pipeline connections, plus
associated pumping and metering facilities. In anticipation of future customer demand and as part of an anticipated second phase
of development, Pembina has also completed detailed engineering studies for the construction of additional rail facilities and
underground cavern storage development.
The Canadian Diluent Hub is designed to augment Pembina's
existing diluent handling facilities in the Fort Saskatchewan area which includes approximately 20,000 barrels per day ("bpd")
of rail import capacity, 500,000 barrels of underground diluent storage and approximately 180,000 bpd of existing delivery capacity
to third-party diluent delivery pipelines. The proposed facilities are designed to accommodate contracted diluent supply volumes
from the Company's previously announced field gas plant, pipeline and natural gas liquids ("NGL") fractionator expansions.
The Company expects CDH to become a new market hub for condensate and other diluents by offering customers:
| · | direct access to a growing and diverse diluent supply through Pembina
and third-party pipeline connections; |
| · | a variety of condensate qualities, crude grades and synthetic crude oil; |
| · | segregation infrastructure and flexibility to accommodate proprietary
and premium diluent blends; |
| · | direct connectivity to third-party market terminals and pipelines that
supply and serve oil sands producers; |
| · | marketing services to facilitate supply aggregation; |
| · | above ground and cavern storage services; and |
| · | access to rail import facilities and future export connections. |
"We are excited to communicate our vision for the Canadian
Diluent Hub," said Paul Murphy, Pembina's Senior Vice President, Pipeline & Crude Oil Facilities. "As the terminus
of Pembina's condensate pipeline for its Peace system, the Heartland site is ideally-located adjacent to all major diluent pipelines
servicing the Athabasca oil sands producing region. This development, combined with our existing asset base, will allow us to provide
our customers with a reliable and cost-competitive supply of not only condensate, but other diluents such as light sweet crude,
synthetic crude oil and custom diluent blends. We expect CDH will become the preferred point of access to satisfy growing diluent
demand in the Heartland area."
The concept for CDH evolved as an extension of Pembina's Nexus
Terminal, which includes Pembina's terminal assets in the Namao, Edmonton, Redwater and Fort Saskatchewan areas of Alberta. The
Company's previously announced pipeline and NGL fractionation expansions will provide customers with a dedicated condensate supply
system. This system, which originates in Northeast British Columbia and spans throughout Northwest Alberta, directly links Pembina's
NGL fractionation supply to the Heartland area demand centre.
"Once we complete our pipeline system expansions and
NGL fractionators, we expect to be the largest domestic supply source for condensate in Alberta," said Mr. Murphy. "The
Canadian Diluent Hub is being driven by increasing production volumes from the ongoing development of the Montney and Duvernay
formation resource plays in our service areas. Production from these plays is fueling infrastructure development and with our access
to condensate, customers are keen to have us expand our diluent service offerings. It is also being driven by customer support
to further develop the existing energy hub in the Alberta Industrial Heartland, due to its proximity to oil sands and diluent pipelines
and associated terminals. CDH builds on the condensate services we already offer and will create incremental solutions for our
customers while supporting long-term shareholder value."
Site preparation began in late-2013 and is on-going. Subject
to further regulatory and environmental approvals, Pembina anticipates phasing-in incremental storage and pipeline connections
to regional condensate delivery systems in 2016 with a view to achieving full connectivity of and service offerings at CDH in the
second quarter of 2017.
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 60 years. Pembina owns and operates pipelines
that transport various hydrocarbon liquids including conventional and synthetic crude oil, heavy oil and oil sands products, condensate
(diluent) and natural gas liquids produced in western Canada. The Company also owns and operates 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 spans 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.
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", "will", "potential", "estimate", "anticipate",
"could", and similar expressions suggesting future events or future performance.
In particular, this document contains forward-looking statements,
pertaining to, without limitation, the following: the ongoing utilization and expansions of and additions to Pembina's business
and asset base, growth and growth potential; expected integration of CDH with Pembina's existing and future infrastructure and
Company strategy; anticipated capital expenditures relating to CDH; planning, construction, schedule, in-service date, activities
and operations with respect to CDH; Pembina's expectations around access to markets and supply sources. 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: oil and gas industry exploration and development activities;
prevailing commodity prices, interest rates and exchange rates; ongoing utilization and future expansion, development, growth and
performance of Pembina's business and asset base; future demand for fractionation and transportation services; that third parties
will provide any necessary support; that counterparties will comply with contracts in a timely manner; potential revenue and cash
flow enhancement; future cash flows.
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.
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.
All financial figures are in Canadian dollars, unless otherwise
noted.
Pembina Pipeline® is a registered trademark of Pembina
Pipeline Corporation.
SOURCE Pembina Pipeline Corporation
%CIK: 0001546066
For further information:
Investor Inquiries:
Scott Burrows
Vice President, Capital Markets
(403) 231-3156
1-855-880-7404
e-mail: investor-relations@pembina.com
Media Inquiries:
Laura Lunt
Senior Manager, Regulatory, Environment and External Relations
(403) 231-7500
CO: Pembina Pipeline Corporation
CNW 08:00e 09-OCT-14
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