Business Strategy and Outlook
| Stephen Ellis |Pembina offers a fully integrated “store” to its customers, allowing them to retain full economics over the midstream value chain. Pembina’s operations performed well in 2020 during the COVID-19 pandemic, thanks to a significant portion of its earnings operating under take-or-pay and fee-based contracts. However, 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.