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Pembina Pipeline Corporation To Expand Its NGL And Crude And Condensate Pipeline Transportation Capacity

About Pembina

Calgary-based Pembina Pipeline Corporation is a leading transportation and midstream service provider that has been serving North America's energy industry for nearly 60 years. Pembina owns and operates:  pipelines that transport conventional and synthetic crude oil and natural gas liquids produced in western Canada; oil sands and heavy oil pipelines; gas gathering and processing facilities; and, an oil and natural gas liquids infrastructure and logistics business. With facilities strategically located in western Canada and in natural gas liquids markets in eastern Canada and the U.S., Pembina also offers a full spectrum of midstream and marketing services that span across its operations. Pembina's integrated assets and commercial operations enable it to offer services needed by the energy sector along multiple steps of the hydrocarbon value chain.

Pembina is a trusted member of the communities in which it operates and is committed to generating value for its investors by running its businesses in a safe, environmentally responsible manner that is respectful of community stakeholders.

Pembina provides monthly cash dividends to its shareholders. Pembina's common shares and convertible debentures are traded on the Toronto Stock Exchange under the symbols PPL, PPL.DB.C, PPL.DB.E and PPL.DB.F respectively. Pembina's common shares are traded on the New York Stock Exchange under the symbol PBA.

Forward-Looking Information and Statements

This news release contains certain forward-looking information and statements that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as "expects", "will", "plans", "anticipates", "proposes" and similar expressions.

In particular, this news release contains forward-looking information and statements relating to: (i) the expected in-service dates of the Phase 1 and 2 NGL Expansions and Phase 1 and 2 LVP Expansions (collectively, the "Expansions"); (ii) the designed capacity of the Expansions; (iii) the estimated cost to construct the Expansions; and (iv) industry exploration and development activity levels. These forward-looking statements are based on certain assumptions including: that the in-service date of the Phase 1 NGL Expansion will be at the end of 2013, the Phase 1 LVP Expansion at the end of 2013, the Phase 2 NGL Expansion by mid-2015, and the Phase 2 LVP Expansion by mid-2014; that the designed capacity of the Phase 1 NGL Expansion will be 167,000 bpd, the Phase 1 LVP Expansion will be 195,000 bpd, the Phase 2 NGL Expansion will be 220,000 bpd, and the Phase 2 LVP Expansion will be 250,000 bpd; that favourable growth parameters continue to exist in respect of current and future growth projects (including the ability to finance such projects on favourable terms); that Pembina is able to reach commercial arrangements with its customers at a satisfying level; and that Pembina's businesses will continue to achieve sustainable financial results.

These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties, including, but not limited to: non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners, alliances and agreements; the strength and operations of the oil and natural gas production industry and related commodity prices; the continuation or completion of third-party projects; regulatory environment and inability to obtain required regulatory approvals; tax laws and treatment; fluctuations in operating results; the ability of Pembina to raise sufficient capital to complete future projects and satisfy future commitments; construction delays; labour and material shortages; and certain other risks detailed from time to time in Pembina's public disclosure documents including, among other things, those detailed under the heading "Risk Factors" in Pembina's management's discussion and analysis for the year ended December 31, 2011 and its Annual Information Form for the year ended December 31, 2011, which can be found at www.sedar.com.

Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws.

All dollar values are in Canadian dollars unless otherwise stated.

SOURCE Pembina Pipeline Corporation

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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