Latest news with #AlliancePipeline
Yahoo
25-07-2025
- Business
- Yahoo
Pembina reaches settlement on Alliance pipeline fees and revenue sharing
CALGARY — Pembina Pipeline Corp. says it has reached a settlement with shippers on fees and revenue sharing for its Alliance pipeline. The company says it expects the deal to reduce its revenue from the pipeline by $50 million per year over the next decade, while a new revenue sharing portion will mean tens of millions of dollars in additional reduced revenue. The effect of the revenue sharing portion depends on the price of natural gas, but under its main price assumption, it would mean an additional $40 million reduction a year. Pembina says it worked with stakeholders through the Canada Energy Regulator to reach a deal that shared value and risk. Alliance is a 3,848-kilometre long natural gas pipeline that runs from Western Canada to the Chicago market hub. Pembina fully owns the Alliance pipeline after acquiring Enbridge Inc.'s half last year as part of a $3.1 billion deal. This report by The Canadian Press was first published July 25, 2025. Companies in this story: (TSX:PPL) The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
25-07-2025
- Business
- Business Insider
Pembina Pipeline reaches settlement with shippers on Alliance pipeline
Pembina Pipeline (PBA) announced that Alliance Pipeline has reached a negotiated settlement with shippers and interested parties on the Canadian portion of the Alliance Pipeline and filed an application with the Canada Energy Regulator seeking approval of the settlement. Separately, Alliance is soliciting non-binding expressions of interest for a new regional short-haul transportation service. The New Tolls will remain fixed for the 10-year period effective November 1, 2025. Alliance anticipates a significant portion of contracted volumes to take advantage of the 10-year toll, thereby extending the weighted average term of Alliance's contractual profile. Revenue from biddable transportation service for volumes above long-term firm capacity of 1.325 billion cubic feet per day, will be shared 50/50 between Alliance and firm and seasonal shippers. The Settlement has no retroactive impact on the interim tolls in effect since November 2024. Alliance will return approximately $95M, currently held as an existing liability on Alliance's balance sheet, associated with eligible recoverable costs. The economic impact to Alliance of the return of this balance is limited to foregone carrying charges. The Shipper Committee supported the Settlement through a vote on July 23. The Settlement is contingent on approval by the CER. Pembina expects the financial impact to Alliance from the Settlement over the next 10 years will be an approximately $50M per year reduction in long-term firm service revenue, plus the impact of the new revenue sharing provision. The estimated impact of the revenue sharing provision assuming an AECO-Chicago natural gas spread of C$1.50 per mcf is approximately $40M.
Epoch Times
27-05-2025
- Business
- Epoch Times
Energy Minister Commits to ‘Clean Slate' in Ottawa-Alberta Relations
Newly minted Liberal Energy Minister Tim Hodgson says he supports Alberta's energy sector, adding that he aims to reset strained ties with Ottawa and fast-track infrastructure projects to help make Canada 'a conventional and clean energy superpower.' Hodgson made the comments during an 'One of my first calls as minister was to [Alberta Energy] Minister Brian Jean. This relationship matters, and I am committed to a clean slate,' Hodgson 'I may live in Toronto right now, but I was born on the Prairies. I want you to understand that I will be a voice for Alberta and Western Canada at the Cabinet table.' Born in Winnipeg, Hodgson served in the Canadian Armed Forces before joining investment bank Goldman Sachs, where he held several roles, including CEO of its Canadian operations. 'At Goldman, one of my first major deals is also one of the deals I am still the proudest of today: The Alliance Pipeline,' he said during his address, referring to the pipeline that transports natural gas from western Canada to the United States. Related Stories 3/25/2025 3/13/2025 Hodgson also served on the board of MEG Energy, a Canadian oil sands producer based in Calgary. He was recently the board chair of Hydro One, Ontario's public electricity provider. He also worked as a special adviser to now-Prime Minister Mark Carney when Carney was governor of the Bank of Canada. In his speech, Hodgson said collaboration between provinces, territories, and the federal government is important for advancing nation-building projects. 'This government isn't just about people in suits in Toronto or Ottawa. It's about people in hard hats, on the drilling pads, in the forests, and at the mills,' Hodgson said. 'From Peace River to Lethbridge, from engineers to rig workers—that work powers our country, and it earns our respect.' Alberta's energy minister said he was 'encouraged' by Hodgson's comments, adding that, given Hodgson's previous experience in the oil sands sector, 'he should understand the challenges we face and the importance of getting our oil and gas products to tidewater.' 'It is critical the federal government follows through on these promises and prioritizes the construction of pipelines and energy infrastructure while repealing job and investment-killing legislation and policies like the 'Build-No-Pipelines Act' and the emissions cap,' Jean said in a May 23 statement to The Epoch Times. Alberta has long Hodgson's comments also come at a time when the issues of Alberta Premier Danielle Smith has Fast-Tracking Infrastructure Projects During his address, Hodgson said the new federal government would be defined not by 'talk' but by action. 'I want to be very clear: in the new economy we are building, Canada will no longer be defined by delay,' he said. 'We will be defined by delivery.' He said the new government will reduce review times for projects of national interest by more than half by establishing a 'Major Federal Projects Office' to serve as a single window for permits and cut red tape, in line with Carney's commitment to a 'One Project, One Review' policy. Hodgson said Canada's energy is a 'tool for global stability and transformation,' adding that Canada needs to diversify its economy in the face of U.S. tariffs. He added that Canadian exports can help 'our allies break dependence on authoritarian regimes,' referring to oil-producing nations with authoritarian governments like Venezuela and Iran. 'We need infrastructure that gets our energy to tidewater and to trusted allies,' he said. 'We will invest in carbon capture, methane reduction, and other technologies to ensure Canadian oil and gas is not only produced responsibly, but is the most competitive in the world.' He also said that turning Canada into an energy superpower would require reframing the national conversation, which he says will involve building consensus for projects while 'meeting our duty to consult so indigenous peoples are true partners, and protecting our environment so we don't have to clean up mistakes later.' 'I'm a pragmatist, a businessman,' Hodgson said. 'When I see something that needs changing, I work hard to change it.'
