Pembina Could Be Hunting for New M&A Targets in 2023

Pembina offers a fully integrated “store” to its customers, allowing them to retain full economics over the midstream value chain. Pembina lacks a compelling growth opportunity at the moment and could be back on the M&A trail in 2023 to address its needs, including a potential bid for Trans Mountain. its major growth opportunities across LNG (a CAD 4 billion-CAD 5 billion net investment in Jordan Cove LNG and the related Ruby Pipeline repositioning) and petrochemicals (a CAD 4.5 billion venture with Canada Kuwait Petrochemical) were essentially canceled in early 2021, leading to significant write-offs.