Boston, MA 09/03/2014 (wallstreetpr) – The Canada-based Pembina Pipeline Corp (NYSE:PBA) signed into an agreement, during the end of August, with the Port of Portland, Oregon. According to the news by Yahoo! Finance, the agreement will facilitate the progress of the West Coast propane export terminal project of the company.
The terminal agreement:
The company is delighted to declare West Coast propane export terminal project as the planned site. The agreement with Port of Portland, Oregon for the terminal project site includes an existing marine berth. The marine berth will help Pembina for the advancement in the terminal project. Also, the agreement talks about the commercial lease conditions for the West Coast Terminal.
In fact, the terminal agreement will help Pembina to initiate the process through consulting with the neighbors of the project as well as with the shareholders of Portland, municipality and other regulatory bodies.
The Executive comments:
The Pembina Pipeline Corp (NYSE:PBA)’s Chief Executive Officer and President, Mick Dilger said that through the terminal agreement, the company will achieve significant success in the project. The CEO also stated that the agreement signifies the beginning of consulting and attracting the shareholders, governmental authorities and environmental regulatory bodies. The transparency and honesty shown by Pembina in its 60 years career will help significantly in the process.
Andrew Gruszecki, the vice president of Business Development of Pembina Pipeline Corp (NYSE:PBA), said that the development of the West Coast Terminal has been proved optimistic while working with Port.
The $650 million transaction:
News updated by Yahoo! Finance on September 2, 2014 says that Pembina Pipeline Corp (NYSE:PBA) is happy to sign into an agreement in order to own an interest in Saskatchewan Ethane Extraction Plant (SEEP) of Vantage pipeline system and Mistral Midstream Inc. The total transaction is worth $650 million.
