Pembina Pipeline Corp. placed the Phase II low vapor pressure crude oil and condensate pipeline expansion ("Phase II LVP Expansion") in service, the company said April 27. The expansion adds 55,000 barrels per day (Mbbl/d) to the Peace Pipeline system, bringing it to more than 250 Mbbl/d.
The Phase II LVP Expansion was placed in service April 24 and commissioned April 8. It is supported by long-term contracts with Pembina's customers.
The expansion will alleviate volume constraints and contribute to the fee-for-service-based cash flow stream, said Jason Wiun, vice president for conventional pipelines.
Phase II LVP Expansion should cost $350 million, including post-construction cleanup.
Mick Dilger, president and CEO, said Pembina’s other pipeline projects are progressing The Phase III crude oil condensate and NGL expansion had 70 kilometers put in service. The Phase II expansion’s NGL component will be put in service during this year’s third quarter.
Pembina Pipeline Corp. is based in Calgary, Alberta.
Recommended Reading
Natural Gas Producers’ Game Plan for LNG: Wait Out 2024
2024-01-08 - Natural gas production has risen over the past decade with the potential to keep growing, but 2024 will test the market’s patience as E&Ps await LNG export capacity to come online.
McKinsey: US Output Hinges on E&P Capital Discipline, Permian Well Trends
2024-02-07 - U.S. oil production reached record levels to close out 2023. But the future of U.S. output hinges on E&P capital discipline and well-productivity trends in the Permian Basin, according to McKinsey & Co.
The Secret to Record US Oil Output? Drilling Efficiencies—EIA
2024-03-06 - Advances in horizontal drilling and fracking technologies are yielding more efficient oil wells in the U.S. even as the rig count plummets, the Energy Information Administration reported.
CERAWeek: CEO Patrick Pouyanné Jokes that Texas is TotalEnergies’ ‘El Dorado’
2024-03-19 - TotalEnergies CEO Patrick Pouyanné said during CERAWeek by S&P Global that Texas was important for his company, which he jokingly called the French company’s “El Dorado” due to the state’s love for oil, gas and renewables.
Exxon, Vitol Execs: Marrying Upstream Assets with Global Trading Prowess
2024-03-24 - Global commodities trading house Vitol likes exposure to the U.S. upstream space—while supermajor producer Exxon Mobil is digging deeper into its trading business, executives said at CERAWeek by S&P Global.