Pembina taking a go-slow approach to new natural gas pipeline buildout
BNN Bloomberg
Pembina Pipeline Corp. is taking a go-slow approach to the buildout of a natural gas pipeline expansion spanning northeast British Columbia and northwest Alberta to ensure the added transportation capacity comes online when producers need it.
The Calgary-based energy infrastructure company has regulatory approval in-hand for a new 89-kilometre pipeline connecting Taylor, B.C. with Gordondale, Alta., at an estimated capital cost of about $341 million.
Late Thursday, Pembina green-lit an initial $115-million phase of that project — a 16-kilometre segment of pipe connecting Alberta gas fields to a pump station at Gordondale. It’s slated to start up early next year.
During an analyst conference call Friday, company executives were quizzed on why they decided to only move forward with part of the project for the time-being, and whether it was due to any change in commodity price outlook or shift in customers’ drilling plans.
Chief operating officer Jaret Sprott said it’s about spending capital prudently.
“We will need that project full-stop one day,” he said.
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