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Inter Pipeline

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Inter Pipeline

Inter Pipeline Ltd.
Public
Traded as TSX: IPL
S&P/TSX 60 component
Industry Petroleum industry
Pipeline transport Storage
Founded November 27, 1997
Headquarters Calgary, Canada
Key people
John F. Driscoll Chair
Pipeline Management

David W. Fesyk Pres,CEO,Dir Pipeline Management
William A. Van Yzerloo CFO Pipeline Management
Christian P. Bayle Sen.VP
Products ethane, butane, natural gas
Revenue $1187.0 mil 2012[1][2]Increase11.6%
$396.41 mil 2012Increase23.9[1]
$307.15m 2012Increase23.9%[1]
Total assets $5.5902 billion 2012Increase25.0%[1]
Total equity $1.659.5 billion 2012Increase25.7%[1]
Number of employees
659 (Dec'12)
Divisions Simon Storage Limited
Website .com.interpipelinewww

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).[3][4]

It is the biggest transporter of oil sands' bitumen (over 1 million bbls/d after the Cold Lake oil sands upgrade)[5] and in 2010 it was Alberta's 23rd fastest growing business.[6] 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.[5] Abroad it operates in Germany, Ireland and the UK via international business unit Bulk Liquid Storage which is managed by subsidiary Simon Storage Ltd.[7]

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.[8]

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 [14] 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.[5]

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.

  • Cold Lake - the transportation system sends oil from Cold Lake to Edmonton and Hardisty Alberta. Much of the expansion happened in 2008 when its capacity increased from a 330,000 bbl/d to 560,000 bbl/d. Between it and Corridor there are 1,900 km of pipeline.
  • Corridor Pipeline - offers services related to oil sands storage and transport.
  • Bulk Liquid Storage - European business based in the UK. Offers trucking services as well as bulk liquid storage (8 terminals with a capacity of 8 million barrels)
  • Conventional Oil Pipelines - The Bow River, Central Alberta and Mid-Saskatchewan pipeline systems which transport almost 200,000 bbls/d to locations in Alberta and Saskatchewan.
  • NGL Extraction - Includes 2 wholly owned and 1 50% owned natural gas processing facilities.

References

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