Government of Canada

Government of Canada

November 16, 2005 15:33 ET

Government Approves Acquisition of Terasen Inc.

OTTAWA, ONTARIO--(CCNMatthews - Nov. 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.

Contact Information

  • Office of the Honourable Lucienne Robillard
    President of the Queen's Privy Council for Canada and
    Minister of Intergovernmental Affairs
    Michael O'Shaughnessy
    (613) 943-1838