A PYMNTS Company

Canada: Pembina Pipeline makes storage play with $3.3B Kinder Morgan deal

By  |  August 21, 2019

Canada’s Pembina Pipeline has agreed to buy Kinder Morgan Canada and the US portion of the Cochin pipeline for C$4.35 billion ($3.28 billion), bulking up its storage resources in Canada.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Years of delay in building new pipelines have led to Western Canada’s oil production outpacing takeaway capacity and driven up demand for storage tanks.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Pembina’s deal follows an unsolicited bid for rival Inter Pipeline, highlighting growing interest in the midstream business of transporting and storing crude.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.