Pembina links with ARC

Article Excerpt

PEMBINA PIPELINE, $50.21, is a buy. The company (Toronto symbol PPL; Shares o/s: 579.5 million; Market cap: $29.1 billion; TSINetwork Rating: Average; Dividend yield: 5.5%; www.pembina.com) has entered into an agreement with ARC Resources (see page 44) for that producer to deliver about 200 million cubic feet per day of natural gas for liquefication at Pembina’s proposed Cedar LNG project. Under the agreement, ARC Resources will supply natural gas through the Coastal GasLink from its production base in Montney, British Columbia, for a term of 20 years commencing in 2028. Pembina and its Cedar LNG partner, the Haisla Nation, are set to make a final investment decision on the project soon. Pembina Pipeline is buy. buy…