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CALGARY — Pembina Pipeline Corp. (TSX:PPL) has signed a non-binding letter of intent to develop a liquefied petroleum gas export terminal on Watson Island, south of Prince Rupert, B.C.
The Calgary-based pipeline operator signed the agreement with Prince Rupert Legacy Inc., a wholly owned subsidiary of the City of Prince Rupert.
The company said it has started a site assessment for the West Coast project and engagement with stakeholders including aboriginal communities.
Initial assessments indicate the development of an export terminal with a capacity of about 20,000 barrels per day of LPG at a capital cost ranging between $125 million and $175 million, Pembina said.
The company said it expects a project timeline of two years from a final investment decision.
The project is still subject to completion of design and engineering requirements, appropriate definitive agreements, environmental and regulatory permits and the approval of Pembina's board.
The Canadian Press
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