Pembina plans $785M in capital spending for 2021, restarting work on two key projects
Pembina Pipeline Corp. is planning $785 million in capital spending next year as it moves to restart work on two key projects, resuming construction of the next phase of its Peace Pipeline expansion and restarting its Empress co-generation facility.
Social Sharing
The Canadian Press ·
Posted: Dec 14, 2020 8:10 AM MT | Last Updated: December 14, 2020
Pembina Pipeline has announced its capital spending plans for 2021, including a new pipeline and associated infrastructure in the LaGlace-Valleyview-Fox Creek corridor in Alberta.(Jason Franson//The Canadian Press)
Pembina Pipeline Corporation Announces 2021 Guidance and Provides Business Update
News provided by
Share this article
Share this article
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ( adjusted EBITDA ), which is a financial measure that is not defined by Generally Accepted Accounting Principles ( GAAP ). For more information see Non-GAAP Measures herein.
CALGARY, AB, Dec. 14, 2020 /PRNewswire/ - Pembina Pipeline Corporation ( Pembina or the Company ) (TSX: PPL) (NYSE: PBA) is pleased to provide its 2021 financial guidance, announce the reactivation of two previously deferred growth projects, and deliver an end-of-year business update. The Company is also providing an update on its joint venture petrochemical facility.
The corporate logo of Pembina Pipeline Corp. (TSX:PPL) is shown. THE CANADIAN PRESS/HO December 14, 2020 - 8:14 AM
CALGARY - Pembina Pipeline Corp. is planning $785 million in capital spending next year as it moves to restart work on two key projects.
The company said Monday it will resume construction of the next phase of its Peace Pipeline expansion and go ahead with the restart of its Empress co-generation facility.
The pipeline expansion includes a new pipeline and associated infrastructure in the LaGlace-Valleyview-Fox Creek corridor in Alberta.
Pembina said the initial capacity has been reduced to 160,000 barrels per day from 240,000, however the capital cost estimate has also been revised lower, by approximately $175 million, to $775 million.
Pembina plans $785M in capital spending for 2021 winnipegfreepress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from winnipegfreepress.com Daily Mail and Mail on Sunday newspapers.