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 March 2016
Commission File Number: 001-35563
PEMBINA PIPELINE CORPORATION
(Name of registrant)
(Room #39-095) 4000, 585 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: March 18, 2016 |
By: |
/s/ Scott Burrows |
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Name: Scott Burrows |
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Title: Vice President, Finance and Chief Financial Officer |
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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 March
18, 2016 - Pembina Pipeline Corporation Provides Business Update |
Exhibit 99.1
Pembina Pipeline Corporation Provides Business Update
CALGARY, March 18, 2016 /CNW/ - Pembina Pipeline Corporation
("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) is pleased to provide an update regarding commissioning
and other developments for projects within the Company's Midstream business.
Crude Oil Midstream
Pembina's crude oil midstream business continues to progress
its Canadian Diluent Hub ("CDH"). CDH is expected to be the primary access point for Oilsands producers to source a significant
and growing supply of domestically produced condensate, from the Montney, Deep Basin and Duvernay developments delivered from Pembina's
Peace Pipeline and Redwater Fractionators. The Company has agreements in place for downstream connections to third-party
diluent pipelines. The interconnections with multiple diluent pipelines represents an initial aggregate take-away capacity in excess
of 400,000 barrels per day ("bpd"). A detailed Class 3 engineering estimate for the infrastructure is complete and long-lead
equipment orders are being finalized. As a result of project optimization and lower forecast costs, the expected capital cost of
the project is now approximately $250 million, reduced from the original $350 million previously announced. The in-service date
of the project is expected to be mid-2017, subject to regulatory and environmental approval.
In March, Pembina commissioned three new storage tanks at
its Edmonton North Terminal ("ENT"). These storage tanks will provide a total of 550,000 barrels of additional crude
oil storage capacity, more than doubling the total capacity of ENT. Originally expected to be placed into service in mid-2016 with
an anticipated capital cost of $75 million, the project was completed both ahead of schedule and under budget. "This large
scale expansion of ENT will enhance the operations of Pembina's Crude Oil Midstream business and provide additional optionality
for our customers," said Bob Jones, Pembina's Vice President, Midstream Crude Oil & Condensate.
Natural Gas Liquids Midstream
Pembina's Natural Gas Liquids Midstream business will have
commissioned the second 73,000 bpd fractionator at the Company's Redwater complex ("RFS II") by the end of March. RFS
II was completed substantially on budget and one quarter later than originally expected. Underpinning RFS II are ten year, take-or-pay
agreements for the entire operating capacity of the facility. Additionally, the design of RFS II benefits from significant operational
improvements and other modifications that have been made to Pembina's existing Redwater fractionator over the years.
With RFS II in service by the end of March, Pembina's Redwater
fractionation capacity will more than double to 155,000 bpd, inclusive of the previously announced debottleneck of the existing
fractionator. "The completion of RFS II is a significant milestone for Pembina's Midstream business and represents the first
new fractionator built in Alberta in 20 years," said Robert Lock, Pembina's Vice President, Natural Gas Liquids.
"By commissioning RFS II and the new storage tanks at
ENT and advancing CDH, Pembina continues to progress our strategic objectives of developing large-scale, fee-for-service assets
that provide high value services to our customers," said Mick Dilger, Pembina's President and Chief Executive Officer. "Most
importantly, our exemplary safety and operations record was maintained across all of these projects from construction through to
commissioning – which is even more impressive, given both ENT and RFS II were constructed within operating facilities."
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 over 60 years. Pembina owns and operates
an integrated system of pipelines that transport various products derived from natural gas and hydrocarbon liquids produced in
Western Canada and North Dakota. The Company also owns and operates gas gathering and processing facilities and an oil and natural
gas liquids infrastructure and logistics business. Pembina's integrated assets and commercial operations along the entire hydrocarbon
value chain allow it to offer a full spectrum of midstream and marketing services to the energy sector. Pembina is committed to
working with its community and aboriginal neighbours, while providing value for investors in a safe, environmentally responsible
manner. This balanced approach to operating ensures the trust Pembina builds among all of its stakeholders is sustainable over
the long-term. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more
information, visit www.pembina.com.
Forward-Looking Statements & Information :
This document contains certain forward-looking statements
and information (collectively, "forward-looking statements") 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", "would", "plans",
"anticipates", "schedule", and similar expressions suggesting future events or future performance.
In particular, this document contains forward-looking statements,
pertaining to, without limitation, the following: CDH, ENT and RFS II, including the planning, capital expenditure estimates, schedules,
expected capacity and in-service dates in respect of those projects; Pembina's corporate strategy; processing, transportation,
fractionation, and services commitments and contracts and operations with respect to Company projects; the ongoing utilization
and expansions of and additions to Pembina's business and asset base, growth and growth potential; the development and expected
timing of new business initiatives and growth opportunities and the benefits thereof.
The forward-looking statements are based on certain assumptions
that Pembina has made in respect thereof as at the date of this news release regarding, among other things, oil and gas industry
exploration and development activity levels and the geographic region of such activity; ongoing utilization and future expansion,
development, growth and performance of Pembina's business and asset base; future demand for processing, fractionation and pipeline
transportation services; prevailing commodity prices and exchange rates and the ability of Pembina to maintain current credit ratings;
future operating costs; geotechnical and integrity costs; that any required commercial agreements can be reached; that all required
regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; that counterparties will comply
with contracts in a timely manner; that there are no unforeseen material costs relating to the facilities which are not recoverable
from customers; interest and tax rates; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating
margins; the amount of future liabilities relating to environmental incidents; and the availability of coverage under Pembina's
insurance policies (including in respect of Pembina's business interruption insurance policy).
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. These forward-looking statements are not guarantees
of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the
regulatory environment and the ability to obtain required regulatory and environmental approvals; the impact of competitive entities
and pricing; labour and material shortages; strength and operations of the oil and natural gas production industry and related
commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has
entered into in respect of its business; actions by governmental or regulatory authorities including changes in tax laws and treatment,
changes in royalty rates or increased environmental regulation; fluctuations in operating results; adverse general economic and
market conditions in Canada, North America and elsewhere, including changes in interest rates, foreign currency exchange rates
and commodity prices; and certain other risks detailed from time to time in Pembina's public disclosure documents available at
www.sedar.com. This list of risk factors should not be construed as exhaustive.
Readers are cautioned that events or circumstances could
cause results to differ materially from those predicted, forecasted or projected. 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 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 Relations: Chelsy Hoy /
Ian McAvity, (403) 231-3156, 1-855-880-7404, e-mail: investor-relations@pembina.com, www.pembina.com; Media Inquiries: Tanis Fiss,
Supervisor, External Communications, (403) 817-7131, e-mail: media@pembina.com
CO: Pembina Pipeline Corporation
CNW 07:30e 18-MAR-16
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