Canada’s Inter Pipeline Fund Acquires Corridor Pipeline

By Anonymous

Knight Inc. (formerly known as Kinder Morgan, Inc.) has closed the sale of the Corridor Pipeline System to Inter Pipeline Fund in Canada for approximately C$760 million (includes debt associated with Corridor’s existing assets). Additionally, Inter Pipeline Fund will assume all of the debt associated with the expansion currently taking place on Corridor. The pipeline transports diluted bitumen from the Athabasca Oil Sands Project (AOSP) near Fort McMurray, Alberta to the Scotford Upgrader near Fort Saskatchewan, Alberta. The transaction does not include any other Kinder Morgan Canada assets.

Copyright Oildom Publishing Company of Texas, Inc. Aug 2007

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