RE:Can Pembiana reverse the 1.2B imparment charge?
Most of the $1.2 bn impairment charge at the end of 2020 was NOT related to the CKPC PP joint venture. The impairment related to the PP jv was only $321 milllion. The majority of the impairment was related to the California (Ruby) pipeline system $1,396 million, and Jordan Cove $349 million - some of which could get reversed if the Ruby pipeline is recontracted successfully. Since the IPL PP plant is a different project there is little likelihood of any basis for reversing any of the PPL write-off related to the CKPC joint venture.