Pembina Pipeline needs Trans Mountain certainty before considering an offer: CEO – CTV News
Nov. 6, 2023
CALGARY – The CEO of Pembina Pipeline Corp. says the company needs more certainty over timing, regulations and costs related to the Trans Mountain expansion project before deciding whether to make an offer for an equity stake in the pipeline.
The Calgary-based pipeline company formed a partnership in 2021 with Western Indigenous Pipeline Group for the purpose of pursuing an Indigenous-led equity stake in Trans Mountain.
That partnership, called Chinook Pathways, is one of just two entities – the other is a group called Project Reconciliation – that has publicly expressed commercial interest in the federal government’s pipeline divestment process.
Ottawa bought the Trans Mountain pipeline, Canada’s only pipeline system that transports oil from Alberta to the west coast, in 2018 to ensure a planned expansion would be completed after previous owner Kinder Morgan Canada Inc. threatened to scrap the project.
But the federal government has always stated it does not wish to be the long-term owner of the pipeline, and recently launched the first phase of what is expected to be a two-part divestment process.
