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Pembina's Valleyview truck and tank station, south of Valleyview, Alberta.

Pembina Pipeline Corp. says its board of directors has approved construction of an export terminal at Prince Rupert, B.C., to be used to send liquefied Western Canadian propane to markets in Asia and Central America.

The Calgary-based company says the project on Watson Island is expected to cost about $260-million, up from an estimate of $150-million made last spring, due to minor scope changes, dock maintenance and additional site preparation.

Pembina's facility, which still requires regulatory and environmental approvals, is expected to be in service by mid-2020 and will have a permitted capacity of about 25,000 barrels per day of propane.

Meanwhile, construction is underway on a terminal on Ridley Island near Prince Rupert that was green-lighted early this year by Calgary-based AltaGas Ltd.

The project, which its builder says will be the first propane export terminal on Canada's West Coast, is expected to cost $475-million and have capacity of 1.2 million tonnes per year – or about 40,000 barrels per day – when it opens in 2019.

Both facilities are to use rail cars, not pipelines, to transport propane from Alberta and B.C. to their facilities.

Nebraska regulators voted on Monday to approve TransCanada Corp’s Keystone XL pipeline route through the state, lifting the last big regulatory obstacle for the long-delayed project that U.S. President Donald Trump wants built.

Reuters

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Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 28/03/24 4:00pm EDT.

SymbolName% changeLast
ALA-T
AltaGas Ltd
+1.53%29.92
PPL-N
PPL Corp
+0.4%27.53
PPL-T
Pembina Pipeline Corp
+0.42%47.81

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