Government Approves Acquisition of Terasen Inc.

News Release

OTTAWA, November 16, 2005 — The Honourable Lucienne Robillard, President of the Queen's Privy Council for Canada, Minister of Intergovernmental Affairs and acting as Minister of Industry for the Honourable David L. Emerson, today announced the approval of the acquisition of the Canadian companies controlled by Terasen Inc. by Kinder Morgan Inc.
During its review, under the Investment Canada Act, the federal government negotiated a wide range of enforceable commitments with the investor. These commitments assisted the Minister in determining that the investment is of net benefit to Canada.
"The company has an ambitious plan of major infrastructure projects to expand the Trans Mountain and Corridor pipelines in British Columbia and Alberta, and has the financial resources required to realize its plan," said Minister Robillard. "They have also committed to rigorously maintaining the infrastructure needed to provide a continued supply of safe and reliable products and services to Terasen's existing domestic customers."
As part of the review process, the federal government consulted the provinces of British Columbia and Alberta. The British Columbia Utilities Commission has completed its own review and has announced its approval of the investment.
For more information, please contact:
Michael O'Shaughnessy
Office of the Honourable Lucienne Robillard
President of the Queen's Privy Council for Canada
and Minister of Intergovernmental Affairs
(613) 943-1838

Search for related information by keyword

Innovation, Science and Economic Development Canada Economics and Industry

Page details

2016-12-15

We have archived this page and will not be updating it.

We have archived this page and will not be updating it.

Government Approves Acquisition of Terasen Inc.

News Release

Page details