Pembina Hikes 2023 Capex as Key Pipeline Plans Hit Milestones

SUGAR LAND--December 14, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Pembina Pipeline Corporation (NYSE:PBA) (Calgary, Alberta) recently outlined a 2023 capital expenditure (capex) program totaling C$730 million (US$539.4 million), about C$480 million (US$354.7 million) of which will go toward its pipeline projects. It is also selling off its stake in a major Canadian pipeline project that carries natural gas liquids (NGL) out of Western Canada's Montney and Duvernay fields. Industrial Info is tracking more than US$1.5 billion worth of projects from Pembina, nearly US$500 million of which is nearing or under construction. Pembina agreed earlier this week to sell its 50% stake in Canada's Key Access Pipeline System (KAPS) to private equity firm Stonepeak Infrastructure Partners. The 348-mile KAPS is designed to carry up to 130,000 barrels per day of NGL from Montney and Duvernay to Keyera Corporation's facilities in Fort Saskatchewan, where the NGL is processed into liquefied natural gas (LNG) for export to Asian markets. Other companies featured: KKR & Company Incorporated (NYSE:KKR) and Enbridge Incorporated (NYSE:ENB).