Energy companies Tidewater and Pembina make $1.2m agreement over pipeline in Taylor

TAYLOR, B.C. — Two energy companies have reached an agreement about the ownership of a section of the Taylor pipeline.

According to a press release on May 6th, Tidewater Midstream has acquired the north segment of Pembina’s Western Pipeline, which starts in Taylor and ends in Prince George.

The deal is reportedly worth $1.2 million, plus the assumption of certain future abandonment and reclamation obligations and liabilities related to the pipeline, estimated to be approximately $30 million.

This means Tidewater would have to take responsibility for financial and legal obligations, including debts, lawsuits, leases or employee-related concerns.

“We are excited to announce the agreement to purchase the Western Pipeline,” said Tidewater chief executive officer Jeremy Baines. 

“The transaction provides Tidewater with the opportunity to unlock meaningful cost savings and increased flexibility and control of our day-to-day refining operations at the Prince George refinery.”

The companies will enter an interconnection agreement, which will see Tidewater continue accessing existing crude sources in Taylor until 2050, providing the Prince George refinery “reliable and cost-effective source of feedstock.”

The acquisition is also anticipated to enhance Tidewater’s ability to optimize its feedstock – raw material – procurement at the Prince George refinery.

The deal is expected to close on September 1st, 2025.