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Pembina Pipeline Corporation Extends Secured Growth with $1.3 Billion of New Integrated Infrastructure Development
Pembina Pipeline Corporation Extends Secured Growth with $1.3 Billion of New Integrated In...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina Pipeline Corporation Extends Secured Growth with $1.3 Billion of New Integrated Infrastructure Development\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Nov. 1, 2018\n\n\n\n(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 about Adjusted EBITDA, see \"Non-GAAP Measures\" herein.)\n CALGARY, Nov. 1, 2018 /CNW/ - Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL) (NYSE: PBA) is pleased to announce that it has entered (directly and through its joint venture affiliates) into long-term, take-or-pay agreements to backstop development of new pipeline and processing infrastructure totaling approximately $1.3 billion. These agreements include related service for liquids transportation on Peace Pipeline, natural gas transmission service and fractionation services at Pembina's Redwater Facility.\nThe agreements announced today include a significant milestone for Pembina - the first integrated deal utilizing Pembina's full value chain including natural gas gathering, processing and transmission; propane-plus and condensate transportation; and propane-plus fractionation, including assets acquired through the acquisition of Veresen Inc. in October 2017.\n\"These new projects demonstrate Pembina's continuing ability to leverage its existing asset footprint to respond to customers' current and future needs in a cost-effective and timely manner. This new infrastructure is indicative of the substantial portfolio of potential growth projects we have before us,\" stated Mick Dilger, Pembina's President and Chief Executive Officer. \"These investments are directly aligned with our goals of providing sustainable, industry leading total returns to our shareholders and reliable, value added services to our customers, and once again highlight the gr...