CALGARY, March 19, 2020 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or the "Company") is pleased to announce
receipt of a certificate of approval from the U.S. Federal Energy
Regulatory Commission ("FERC") for Pembina's proposed Jordan Cove liquified natural gas ("LNG")
terminal and Pacific Connector Gas Pipeline (together known as
"Jordan Cove" or "the Project"). Jordan
Cove is the first ever U.S. West Coast natural gas export
facility to be approved by FERC. This federal approval is a
significant milestone for the Project and for Pembina.
Pembina acquired Jordan Cove in
late 2017 and has since been working toward obtaining extensive
local, state and federal regulatory approvals. The Project includes
a 229-mile pipeline, that would traverse four counties in
Southern Oregon, and an LNG export
terminal in Coos Bay, Oregon.
Natural gas for Jordan Cove would be
sourced at the Malin Hub, creating a new outlet for natural gas
from areas such as the Rockies Basin. The Project represents a
significant opportunity to bring tremendous economic benefits to
the State of Oregon and
Western Colorado and make a
substantial contribution to addressing global climate change by
replacing coal in Asia.
The bi-partisan FERC is currently comprised of three appointed
Commissioners and serves as the federal agency responsible for
reviewing proposals to build interstate natural gas pipelines,
natural gas storage projects, and LNG terminals. The FERC's
approval of the Project is the result of comprehensive
environmental, safety and security reviews involving input from
both federal and state agencies, Tribes, landowners and many other
stakeholders.
Today's affirmative decision from the FERC represents the most
significant step forward for Jordan
Cove since Pembina acquired the Project. "We appreciate
FERC's science-based approach to their review. The approval
emphasizes yet again that Jordan
Cove is environmentally responsible and is a project that
should be permitted given a prudent regulatory and legal process
was undertaken," said Harry
Andersen, Pembina's Senior Vice President and Chief Legal
Officer. "The FERC's decision is due in no small part to
our many supporters who have turned out time and time again to
voice their support for Jordan Cove
and to show that the Project is in the public interest, including
in Southern Oregon and the Rockies
Basin," added Mr. Andersen.
This decision is one of many significant steps forward for
Jordan Cove in recent months. In
addition to this federal approval, Jordan
Cove recently received approval on all 14 local jurisdiction
county and city applications and permits. Also, the Company has
signed voluntary easement agreements that constitute 77 percent of
the privately-owned portion of the proposed pipeline route, which
will allow the pipeline to cross beneath these properties.
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 65 years. Pembina owns an
integrated system of pipelines that transport various hydrocarbon
liquids and natural gas products produced primarily in western
Canada. The Company also owns gas
gathering and processing facilities; an oil and natural gas liquids
infrastructure and logistics business; is growing an export
terminals business; and is currently developing a petrochemical
facility to convert propane into polypropylene. Pembina's
integrated assets and commercial operations along the majority of
the hydrocarbon value chain allow it to offer a full spectrum of
midstream and marketing services to the energy sector. Pembina is
committed to identifying additional opportunities to connect
hydrocarbon production to new demand locations through the
development of infrastructure that would extend Pembina's service
offering even further along the hydrocarbon value chain. These new
developments will contribute to ensuring that hydrocarbons produced
in the Western Canadian Sedimentary Basin and the other basins
where Pembina operates can reach the highest value markets
throughout the world.
Purpose of Pembina:
To be the leader in delivering integrated infrastructure
solutions connecting global markets;
- Customers choose us first for reliable and value-added
services;
- Investors receive sustainable industry-leading total
returns;
- Employees say we are the 'employer of choice' and value
our safe, respectful, collaborative and fair work culture; and
- Communities welcome us and recognize the net positive
impact of our social and environmental commitment.
Pembina is structured into three Divisions: Pipelines Division,
Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For
more information, visit www.pembina.com.
Forward-Looking Information and Statements
This news release 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 "intend", "will", "shall", and similar expressions
suggesting future events or future performance.
In particular, this news release contains forward-looking
statements relating to the potential economic and climate change
benefits of the Project. These forward-looking statements are based
on certain assumptions that Pembina has made in respect thereof as
at the date of this news release, including: prevailing commodity
prices, margins and exchange rates, that Pembina's businesses will
continue to achieve sustainable financial results and that future
results of operations will be consistent with past performance and
management expectations in relation thereto, the availability and
sources of capital, operating costs, ongoing utilization and future
expansions, the ability to reach required commercial agreements,
and the ability to obtain required regulatory approvals. These
forward-looking statements are not guarantees of future performance
and are subject to a number of known and unknown risks and
uncertainties, including, but not limited to: non-performance of
agreements in accordance with their terms; 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; the ability of Pembina to raise sufficient capital to
complete future projects and satisfy future commitments;
construction delays; labour and material shortages; and certain
other risks detailed from time to time in Pembina's public
disclosure documents including, among other things, those detailed
under the heading "Risk Factors" in Pembina's management's
discussion and analysis and annual information form for the year
ended December 31, 2019, which can be
found at www.sedar.com and with the U.S.
Securities and Exchange Commission at www.sec.gov and available on
Pembina's website at www.pembina.com.
Accordingly, readers are cautioned that events or
circumstances could cause results to differ materially from those
predicted, forecasted or projected. Such forward-looking statements
are expressly qualified by the above statements. 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.
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SOURCE Pembina Pipeline Corporation