|The Prince Rupert LPG Terminal at Watson Island gains
a significant amount of attention in Pembina Pipeline's
First Quarter update for 2021
(photo from Pembina website)
Pembina Pipelines released their first quarter financial results and operation overview on Thursday, the first three months providing fo a strong start to the year which Pembina indicates makes for an improving business environment relative to much of the year before.
And while the financial results provide some of the focus for the release, it's probably the attention that the Prince Rupert Terminal receives that will be of interest to North Coast Residents, as Pembina outlines the launch of their LPG Terminal on Watson Island.
The glimpse into their newest of fixed assets providing a snapshot of the terminal's place as part of the global shipping infrastructure as well as some background towards the opening day for the facility.
In the preamble to the report, Pembina notes how the new Terminal will provide for global market access:Prince Rupert Terminal ("PRT") entered service at the end of the quarter and as of April 22, two vessels had departed PRT, destined for international markets. In addition, Pembina has entered into a one-year agreement with a subsidiary of Mitsui & Co., Ltd. ("Mitsui") for the purchase of substantially all of the post-commissioning cargos shipped from the terminal.
"With our partners at Pembina, we've been able to move forward together. Working closely together over six years, we've been able to bring Watson Island back into operation."
The Prince Rupert Terminal Expansion remains deferred. Engineering of the expansion is well advanced and Pembina expects to make a final investment decision in the second half of 2021.