The Pembina Pipeline Corporation provided a second quarter update for investors earlier this month, offering up some financial data for their review, as well as an update on some of their future plans, including a pair of Northwest BC investment.
On the financial side of the review, Pembina reported earnings of $254 million for the second quarter, two percent lower than the same period in the prior year. Cash flow from operating activities of $584 million for the second quarter was a decrease of nine percent over the same period in the prior year.
The decrease was driven primarily by an increase in taxes paid due to higher tax installments given the COVID-related deferrals in 2020, an increase in net interest paid, and a decrease in operating results.
As they look ahead to the remainder or 2021 and beyond, the Alberta energy company outlined where they are when it comes to two high profile expansion projects, with one note of interest for those following their investment in the Watson Island LPG Terminal.
|An overhead look at the Watson Island LPG facility
from their supply chain partner at CN Rail
"Further decisions on Phase VIII Peace Pipeline Expansion and Prince Rupert Terminal Expansion are expected later this year and early next year, respectively.
The same outlook also supports our confidence in the development of a portfolio of growth projects totalling more than $5 billion with compelling rates of return."