Plans for the Cedar liquefied natural gas (LNG) project in British Columbia, rising oil and natural gas prices, firming producer demand for deliveries, and other factors signal improved fortunes for Pembina Pipeline Corp., according to management.

Cedar LNG

The Calgary-based company is “working very diligently” on its front end engineering and design work for Cedar LNG with its partner, the Haisla Nation, Pembina’s Stuart V. Taylor, senior vice president, told analysts during a Feb. 25 call to review fourth-quarter and full-year earnings.

With Cedar LNG, “everything is going well, we submitted our environmental assessment application for the project,” said Taylor. “We like the Cedar project. We’re looking for additional opportunities in the area, how to continue to grow and...