Ovintiv, Pembina Pipeline unit sign agreement for Cedar LNG capacity

Ovintiv (OVV) and a subsidiary of Pembina Pipeline (PBA) announced the signing of a 12-year agreement for 0.5M tonnes per annum of Pembina’s liquefaction capacity at the Cedar LNG facility. The Agreement enables the export of 0.5 mtpa of LNG, under which Pembina will provide transportation and liquefaction capacity to Ovintiv over a 12-year term, commencing with commercial operations at Cedar LNG, anticipated in late 2028. It provides Ovintiv, one of Canada’s largest natural gas producers, with access to additional export markets, complementary to the Company’s existing portfolio of natural gas transportation arrangements. Export from the west coast of Canada offers the shortest shipping distance to Asian LNG markets from North America.