Pembina Pipeline — BrandWiki

Pembina Pipeline is a Canadian corporation that operates transportation and storage infrastructure that delivers oil and natural gas to and from parts of Western Canada. Since 2003, this has included ethylene storage at one location. Western Canada is the source of all products transported by Pembina pipeline systems, which include the Syncrude pipeline, Horizon pipeline, and Cheecham oilsands pipelines.

Pembina Pipeline Corporation became an income fund (trust) in 1997, joining the Toronto Stock Exchange with an IPO of $600 million. On October 1, 2010, it converted to a public corporation and changed its official name from Pembina Pipeline Income Fund to Pembina Pipeline Corporation.[3][4] As of 2023, the company had more than 2,837 employees.[2]

History

The company can be traced back to 1954 when the Pembina pipeline system was built to serve the Pembina oil field

Operations

Operations are segmented into three main areas: (1) infrastructure for transporting conventional oil, (2) infrastructure for transporting oil sands and heavy oil, and (3) services related to storage and logistics (terminals, hubs, and midstreams), as well as marketing.[14]

Conventional oil infrastructure

These operations oversee pipelines in British Columbia and Alberta that transport crude oil and natural gas liquids. There are two main systems: the Alberta System and the BC System.

The Alberta System wholly owns and runs three systems (all in operation since the 1950s), the largest of which is the Peace System (2009), and owns 50% of another, the Glen System (shared with Keyera Energy), and has a 10% interest in the Wabasca Oil Field System. Equal Energy Ltd is one of many minor producers that use the peace pipeline. Equal's 16 wells near Grand Prairie, Alberta, deliver oil to the system.[15]

BC System, 100% owned, has been in operation since 1960, and encompasses 3 storing facilities. The crude oil pipelines run in northeastern BC and connect Taylor to Kamloops. The total capacity is half of the smallest Alberta pipeline system (80,000 b/d in May 2009).[16]

Oil sands and heavy oil infrastructure

These operations manage pipelines (and their associated facilities) used to transport synthetic crude from upgrading facilities. The division oversees the Syncrude pipeline, Cheechan pipeline (operating since 2006), and Horizon pipeline (operating 2008). All three have long-term contracts (over 20 years). Syncrude represents half of the total design capacity.

Horizon serves Canadian Natural Resources at their most important synthetic oil-producing area. (For the Horizon project, the contract is for 25 years).[16]

Midstream and marketing

This consists of Pembina's storage and terminal business. 18% of revenue comes from storage and related services not connected with the Cutbank Complex and Ethylene storage.

Cutbank consists of three gas plants (Cutbank, Musreau, and Kakwa River), nine compressor stations, and a 300 km-long system that gathers and processes natural gas liquids. Kakwa is 50% owned by Pembina but operated by another company.[9]

Ethylene Storage 50% is an underground operation. The contract runs until 2023 and is operated by Dow Chemicals. Dow Chemicals along with Nova Chemicals Corp (the company from which Pembina bought its interest in 2003) are the biggest customers.[16]

type	Public
traded as	tsx: PPL nyse: PBA S&P/TSX 60 component
foundation	September 24, 1954
location city	Calgary
location country	Canada
key people	Scott Burrows President & CEO Henry W. Sykes Chairman
industry	Petroleum industry Pipeline transport Storage
products	Ethylene and Oil Storage Natural gas
revenue	CA$9.125 billion‡R1R‡
revenue year	2023
operating income	CA$2.655 billion‡R1R‡
income year	2023
net income	CA$1.776 billion‡R1R‡
net income year	2023
assets	CA$32.618 billion‡R1R‡
assets year	2023
equity	CA$15.813 billion‡R1R‡
equity year	2023
divisions	Pembina Marketing Ltd Syncrude pipeline Horizon Pipeline
num employees	2837 (2023)‡R2R‡
homepage	www.pembina.com

History

Operations

Conventional oil infrastructure

Oil sands and heavy oil infrastructure

Midstream and marketing

References