Type Public Number of employees 659 | Revenue $1187.0 mil 201211.6% CEO Christian P. Bayle Founded 27 November 1997 | |
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Traded as TSX: IPLS&P/TSX 60 component Key people John F. Driscoll ChairPipeline ManagementDavid W. Fesyk Pres,CEO,Dir Pipeline ManagementWilliam A. Van Yzerloo CFO Pipeline ManagementChristian P. Bayle Sen.VP Stock price IPL (TSE) CA$ 28.19 -0.09 (-0.32%)13 Mar, 4:00 PM GMT-4 - Disclaimer Subsidiaries Williams Energy Canada Inc | ||
Inter pipeline corporate movie
Inter Pipeline is a multinational petroleum (oil, natural gas and petrochemical products) transportation and infrastructure limited partnership that ranks among North America's leading natural gas and NGL's extraction businesses (from its liquids (NGL's) counterpart). It is one of Alberta's top 100 companies in terms of profit (85) and assets (94).
Contents
It is the biggest transporter of oil sands' bitumen (over 1 million bbls/d after the Cold Lake oil sands upgrade) and in 2010 it was Alberta's 23rd fastest growing business. The energy infrastructure business is divided into 4 segments; conventional oil pipelines, natural gas extraction, liquid storage and oilsands transportation. Major companies such as Encana, Canadian Natural Resources, Shell Canada, Chevron, Marathon Oil and Imperial Oil rely on the pipelines for transportation of oil to refineries and distribution to markets. Abroad it operates in Germany, Ireland and the UK via international business unit Bulk Liquid Storage which is managed by subsidiary Simon Storage Ltd.
In 2010 other Canadian trusts/funds converted to corporations but Inter Pipeline's board of directors decided against it citing costs, a lack of tax benefits and the market response to other companies that converted.
History
Inter Pipeline's origins go back to 1997 to Koch Industries a refiner out of which sprang two pipelines one of which formed Koch Pipelines Canada, a conventional oil pipeline transportation company that Inter Pipeline directly traces its roots to. Within the next year it went public on the Toronto Stock Exchange listing under the symbol KPC.UN. In 2000 it purchased a 15% interest in the Cold Lake pipeline system which it later increased to a controlling stake through a deal with Encana. In early 2003 it purchased a 70% interest in the Cold Lake Pipeline system from Encana for $425 million giving it access to transportation hubs in major cities like Edmonton. In 2004 it paid Williams Companies US$540 million for 3 of Canada's biggest natural gas treatment plants (which processed a combined 3.9 billion ft3 per day). That move gave it direct access to gas supplies from the Mackenzie Delta. 2005 was the year Inter Pipeline entered the UK market by buying Simon Storage, the UK's biggest terminal operator for C$250 million. In 2006 annual revenue reached $1 billion after the $38 million takeover of German storage company Tanklager-Gesellschaft Hoyer mbH (TLG). It entered the oilsands in March 2007 when it acquired the Corridor Pipeline from Houston-based Kinder Morgan for C$275 million in cash and C$485 million in debt; the deal gave Inter Pipeline the infrastructure used to transport about 30% of the oilsands output (including the 85% interest it had in Cold Lake it is 50%) but also left it with a $1.8 billion infrastructure expansion commitment). A decision by Enbridge and Inter Pipeline to move their pipelines east of the Labiche River helped to reduce the environmental impact and risk associated with the pipelines.
Operations
At the NGL's processing plants natural gas is separated from associated liquids which contain valuable ethane and a mix of propane, butane and pentane. The liquids components have a variety of uses ranging from asphalt to lubricants.