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Pembina and Chevron sign agreement

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World Pipelines,

Pembina Pipeline Corporation (Pembina) has has entered into a 20 year infrastructure development and service agreement with Chevron Canada Limited (Chevron).

Under the agreement and subject to Chevron sanctioning development in an agreed region, Chevron has the right to require Pembina to construct, own and operate gas gathering pipelines and processing facilities, liquids stabilisation facilities and other supporting infrastructure for an agreed area of dedication, together with Pembina providing long term service for Chevron on its pipelines and fractionation facilities.

Subject to Chevron and regulatory approvals, the infrastructure developed over the term of this agreement has the potential to represent a multi-billion dollar investment by Pembina.

"This agreement represents an ideal long term growth opportunity for Pembina, as it substantially strengthens our competitive positioning in a world class resource play with long life hydrocarbon resources, and provides for the opportunity to deploy a significant amount of capital under a low risk, long term commercial framework that aligns with our guard rails," said Stuart Taylor, Pembina's Senior Vice President, NGL & Natural Gas Facilities.

"Being selected as the provider of choice for this service demonstrates the advantages associated with our safety record, relationships with the communities and, integrated service offering," he added.

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