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Inter Pipeline and Plains All American swing deal
Empress straddle plants involved in deal with Inter Pipeline Ltd.
Sep 28, 2020 | 7:05 AM
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CALGARY – Inter Pipeline Ltd. has signed a deal to acquire the Milk River pipeline system from a subsidiary of Plains All American Pipeline LP, in exchange for its 100 per cent ownership interest in the Empress II and 50 per cent ownership interest in the Empress V straddle plants.
Plains will also pay Inter Pipeline $35 million in cash.
The Milk River pipeline system includes two 16-kilometre pipelines with current throughput volume of about 90,000 barrels per day and links Inter Pipeline’s Bow River pipeline system from Milk River, Alta., to the Canada-U.S. border.
Inter Pipeline will also acquire pumping and metering facilities, two crude oil storage tanks and truck unloading facilities as part of the deal.
