Tidewater Closes Acquisition of Western Pipeline North Segment from Pembina

Tidewater Midstream has closed its acquisition of the Western Pipeline’s North Segment from Pembina, securing a key link to supply the Prince George Refinery in British Columbia.

(P&GJ) — Tidewater Midstream and Infrastructure Ltd. has closed its acquisition of the North Segment of the Western Pipeline System from Pembina Pipeline Corp. and its affiliates.

The transaction, first announced in May 2025, involved a cash payment of about CAD$1.2 million ($870,000) and the assumption of roughly CAD$30 million in abandonment and reclamation liabilities. At that time, Tidewater said the deal would provide a long-term, cost-effective source of crude supply to its Prince George Refinery (PGR) in British Columbia.

The Western Pipeline stretches about 377 kilometers (234 miles), originating in Taylor, B.C., and terminating in Prince George. It serves as the key conduit connecting the refinery to crude production in northeastern British Columbia. As part of the agreement, Tidewater and Pembina also entered into a 25-year interconnection agreement at the Taylor Terminal to maintain access to existing crude sources.

“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 PGR,” CEO Jeremy Baines said when the deal was announced in May. “We expect that the transaction will allow us to significantly reduce the cost of feedstock flowing into PGR, which will improve product margins and will play a key role as we continue to focus on optimizing our refining assets.”

Tidewater said the integration of the Western Pipeline into its downstream operations is expected to deliver operating efficiencies and support long-term optimization of feedstock procurement and costs at the refinery.