Pembina Pipeline signed a non-binding agreement with the Government of Canada, the Province of Alberta, and Trans Mountain Corporation to develop a proposed energy corridor. The project includes a new crude oil pipeline running from Alberta to Canada's West Coast.
The new pipeline will have a capacity of approximately one million barrels per day. Partners describe the project as a national priority. The development also includes a new export terminal and will utilize the existing Trans Mountain pipeline route.
Trans Mountain will lead all construction and operational activities. Pembina will hold a 10% economic interest throughout the construction phase. The agreement includes an option for Pembina to acquire an additional 10% interest once the pipeline is operational.
The federal and provincial governments will share joint ownership of the project with Pembina. Indigenous partners hold a reserved right to acquire a working interest upon the commencement of commercial operations.