Pembina Pipeline Corp T.PPL.PR.O

Cedar LNG FID in Q4

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I think the upcoming decision on this project with initial estimated cost of $3B is adding to the overall pressure on PPL. Surging interest rates on long end of the bond market mean higher project funding costs. Gotta be a debt issuance or maybe a secondary to partly fund this thing no?

>>>Pembina Pipeline Corp. has been granted the permit for its proposed LNG facility by the BC Energy Regulator. This marks a significant advancement for the 3-million tonnes/year Cedar LNG plant, as reported in Pembina's Q2 2023 earnings release on August 3.

The final investment decision (FID) timeline has been revised to the fourth quarter of 2023, due to ongoing discussions and negotiations involving LNG Canada and Coastal GasLink. In March, the project received its Environmental Assessment Certificate for an 8.5-km pipeline connecting Cedar LNG to the Coastal GasLink pipeline.

In the same report, Pembina announced that Cedar LNG has secured non-binding MOUs with investment grade counterparties for long-term liquefaction services. The company is actively working towards finalizing definitive commercial agreements. Additionally, Cedar LNG initiated a second front end engineering design (FEED) process for a floating LNG vessel in late 2022, which is progressing alongside the original FEED work.

https://pgjonline.com/news/2023/august/pembina-pipeline-delays-cedar-lng-fid-to-fourth-quarter-2023