PEMBINA PIPELINE CORP

The company can be traced back to 1954 when the Pembina pipeline system was built to serve the Pembina oil field in the Drayton Valley region. For the next 37 years, the company's main operations were centred on oil delivery to Edmonton using the Pembina pipeline.

The company made its first acquisition, Peace Pipe Line Ltd., in 1991. Five years later, it bought half of the Bonnie Glen System, a 250 km-long network serving oil fields in central Alberta. Inter Pipeline Fund, the leading transporter of oilsands bitumen, was also established in 1997.

Three years later in 2000, Pembina took over Federated Pipe Lines Ltd. in a $340 million deal from a group headed by Imperial Oil (Pembina needed to use a $420 million credit facility). [ citation needed ] After the takeover, Pembina's network in Western Canada was 7,000 km long and transported nearly 550,000 b/d of oil and natural gas.

In 2001, Pembina sold a salt cavern in Hardisty to Canadian Crude Separators Inc., and acquired 100 percent of the main Syncrude pipeline by taking over its operator, Alberta Oil Sands Pipeline Ltd. for $225 million. The buyout of Alberta Oil Sands Pipeline was instrumental in Pembina's growth by giving them access to a number of large oil and gas customers, including Imperial Oil, Conoco Oil, Nexen, and Petro-Canada.

On June 24, 2003, Pembina bought 50 percent of an ethylene storage facility in Fort Saskatchewan for $185 million from NOVA Chemicals Corp, the other 50 per cent owned by Dow Chemical Canada.

On June 2, 2009, Pembina acquired the Cutbank Complex from a Talisman Energy subsidiary for $300 million in cash (provided by a credit facility).

In 2012, Pembina purchased Provident Energy, a Canadian company, for $3.1 billion in stock. In 2017, it purchased rival energy infrastructure corporation Veresen, for $9.7 billion. At the time, Veresen was primarily a natural gas transportation company, while Pembina focused on transporting oil and other liquids.

In 2019, Pembina purchased Kinder Morgan Canada Limited, along with a portion of the Cochin pipeline, for $4.35 billion.

In 2024, Pembina purchased the remaining 50% of Alliance Pipeline from Enbridge along with an additional 42.7% of the Aux Sable gas processing facility.