In­ter Pipe­line buys Wil­liams Canada

Alberta Oil - - OBSERVER | NEWS NUMBERS PEOPLE PLACES -

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.

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