Inter Pipeline buys Williams Canada
Calgary’s Inter Pipeline struck a deal in August to buy the Canadian gas assets of Tulsa-based Williams for $1.35 billion. The Williams Canada assets include two NGL extraction plants near Fort McMurray, a gas processing plant near Redwater and a pipeline system connecting the two. But Inter also gained the option of getting a foothold into an Alberta petrochemical manufacturing industry that, if the Alberta NDP government gets its way, will take off in the years to come. This year, the NDP government announced up to $500 million in royalty credits for new value-added petroleum manufacturing projects, including a proposed $1.85-billion propane- to-propylene pellet manufacturing center that Inter acquired from Williams in the deal.