CALGARY Pembina Pipeline Corp. is reporting a $1.2 billion net fourth-quarter loss thanks mainly to $1.6 billion in non-cash after-tax impairment charges on its proposals to build an Alberta petrochemical plant and Oregon LNG export facility.
The Calgary-based company said in December it and joint venture partner Petrochemical Industries Co. of Kuwait had decided to halt work on an integrated propane dehydration plant and polypropylene upgrading facility near Edmonton.
Pembina has a 50% interest in the project designed to turn propane into plastic pellets, similar to the nearby $4 billion Heartland Petrochemical Complex under construction by rival Inter Pipeline Ltd.
It says it is also taking a charge against its proposed Jordan Cove LNG Project at Coos Bay, Ore., and a related natural gas supply pipeline in light of “regulatory and political uncertainty.”
CALGARY - Pembina Pipeline Corp. is reporting a $1.2 billion net fourth-quarter loss thanks mainly to $1.6 billion in non-cash after-tax impairment char.
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