Canadian Competition Bureau Clears Pembina Purchase of Kinder Morgan
(Reuters) — Energy company Pembina Pipeline Corp said it has received approval from the Canadian Competition Bureau on Wednesday, to buy Kinder Morgan Canada Ltd .
The company said the approval satisfies the last regulatory condition necessary for the deal to close.
In August, Pembina Pipeline had agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for C$4.35 billion ($3.27 billion), bulking up its storage resources in Canada.
Pembina's deal follows an unsolicited bid for rival Inter Pipeline Ltd, highlighting growing interest in the midstream business of transporting and storing crude.
The deal is expected to close next month and is contingent on approval by Kinder Morgan Canada shareholders at a special meeting scheduled on Dec. 10.
Related News
Related News
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Seeks Emergency Certificate to Operate $1 Billion Mid-Atlantic Gas Pipeline After Court Reversal
- Texas Oil Pipelines Near Max Capacity, Threatening Future Export Limits
- Energy Transfer Subsidiary Selects KTJV for Lake Charles LNG Export Project
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- Saudi Arabia Looking to Expand Pipeline to Reduce Oil Exports via Gulf
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
- Alaska Greenlights Enstar’s $57 Million Pipeline to Boost LNG Imports
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
Comments