By Liam Verster

Pembina Pipeline cuts capital spending plan by up to $1.1 billion

Mar 18, 2020 | 6:39 AM

CALGARY – Pembina Pipeline Corp. is cutting its capital spending plan for this year by up to $1.1 billion due to the COVID-19 pandemic and the plunge in oil prices.

The company now expects its revised 2020 capital budget to between $1.2 billion and $1.4 billion.

The compared with an earlier plan to spend $2.3 billion.

Pembina says it’s deferring the Phase VII, VIII and IX expansions of the Peace Pipeline and its Empress co-generation facility.

It is also deferring its Prince Rupert terminal expansion and its investment in an integrated propane dehydrogenation plant and polypropylene upgrading facility.

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Pembina says the deferred projects were expected to come into service largely in 2021 through 2023.