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
