Monday, May 9, 2022

Pembina puts Watson Island Expansion plans on the shelf for now, continues with investment plans for Haisla led Cedar LNG

The proposed terminal expansion for Prince Rupert's Pembina LPG Terminal have been deferred indefinitely, with the Canadian energy company making its announcement on the fate of the terminal plans at last weeks investors information session.

Pembina noted of 'refreshed evaluation of market dynamics, that include customer demand, shipping costs and North American pricing' among the factors behind its decision. The company notes that it will continue to evaluate sales options and consider future expansion as the market conditions evolve.

Pembina notes on their Watson Island expansion deferral
(click to enlarge)

The Pembina facility which saw its first shipment of LPG depart for foreign markets in April of last year, is the flagship development on land leased at the City owned Watson Island Intermodal Trade and Logistics Park

The latest data from the Prince Rupert Port Authority indicates that 137,190 tonnes of LPG have shipped through the Watson Facility so far in 2022.

Pembina has also entered into a partnership agreement with the Haisla First Nation with plans in motion to develop the proposed Cedar LNG project, that investment into a floating facility near Kitamaat is now moving into the 180 day application review phase.

More on that development plan and other notes from the Thursday conference call can be reviewed here.

For additional notes on their Watson Island facility see our archive page here, items of note on Cedar LNG can be explored from our archive here.

1 comment:

  1. If I had to choose doing business with the Haisla Nation over the City of Prince Rupert, I'd choose Haisla all day every day.
    Why is that?
    Well, their track record speaks for itself -