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    PPL   CA7063271034

PEMBINA PIPELINE CORPORATION

(PPL)
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Pembina Pipeline : and TC Energy team up for carbon transportation and sequestration project

06/17/2021 | 08:25am EDT

CALGARYPembina Pipeline Corp. and TC Energy Corp. have announced a plan to develop a carbon transportation and sequestration system in Alberta.

The companies say the project will form the backbone of Alberta's carbon capture utilization and storage industry.

It will be capable of transporting more than 20 million tonnes of carbon dioxide annually.

Pembina and TC Energy plan to retrofit existing pipelines as well as build new systems to connect the province's largest sources of industrial emissions to a sequestration location northeast of Redwater, Alta.

They say that by using existing assets it speeds up timing of the project, reduces environmental and community impacts and is cheaper.

Pembina and TC Energy hope to have the first phase to be operational as early as 2025.

This report by The Canadian Press was first published June 17, 2021.

Companies in this story: (TSX:PPL, TSX:TRP)

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
PEMBINA PIPELINE CORPORATION -0.15% 39.4 Delayed Quote.30.90%
TC ENERGY CORPORATION -0.02% 61.02 Delayed Quote.17.93%
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Financials
Sales 2021 7 153 M 5 692 M 5 692 M
Net income 2021 1 201 M 956 M 956 M
Net Debt 2021 16 577 M 13 192 M 13 192 M
P/E ratio 2021 18,0x
Yield 2021 6,43%
Capitalization 21 671 M 17 225 M 17 246 M
EV / Sales 2021 5,35x
EV / Sales 2022 4,76x
Nbr of Employees 2 623
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 39,40 CAD
Average target price 41,83 CAD
Spread / Average Target 6,18%
EPS Revisions
Managers and Directors
Michael H. Dilger President, CEO & Non-Independent Director
J. Scott Burrows Chief Financial Officer & Senior Vice President
Randall J. Findlay Chairman
Jaret Sprott Chief Operating Officer-Facilities & Senior VP
Leslie A. O'Donoghue Independent Director
Sector and Competitors
1st jan.Capi. (M$)
PEMBINA PIPELINE CORPORATION30.90%17 947
ENBRIDGE INC.19.41%81 542
ENTERPRISE PRODUCTS PARTNERS L.P.20.06%52 947
TC ENERGY CORPORATION17.93%50 177
KINDER MORGAN, INC.27.07%41 419
THE WILLIAMS COMPANIES, INC.25.44%32 531