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Pembina Pipeline Takes Impairment on Jordan Cove


Pembina Pipeline Takes Impairment on Jordan Cove
Feb 25, 2021 11:02:pm
Summary
by: Dale Lunan
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Pembina Pipeline Takes Impairment on Jordan Cove
Pembina Pipeline, the Canadian midstream operator proposing the 7.8mn mt/yr Jordan Cove LNG export terminal, has taken a C$349 (US$277)mn impairment on the project, it said February 25 while releasing its Q4 2020 financial results.
The impairment includes all previously-capitalized amounts related to Jordan Cove, except for land with a recoverable carrying amount of $21mn.
Jordan Cove LNG, which Pembina acquired in 2017 when it bought midstreamer Veresen, has been beset by landowner opposition and difficulties acquiring key Oregon state permits.  ....

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Pembina Pipeline Corporation Announces 2021 Guidance and Provides Business Update


Pembina Pipeline Corporation Announces 2021 Guidance and Provides Business Update
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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. ....

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