(Source: Shutterstock.com)
Pembina Pipeline received a "no-action letter" from the Canadian Competition Bureau, meaning that the federal government will not challenge the company’s acquisition of Enbridge’s interest in a joint venture with the Alliance Pipeline and Aux Sable NGL fractionation facilities.
The "no-action letter" satisfies the last regulatory condition necessary to complete the deal, which is expected to be finalized on April 1, Pembina said in a March 19 press release.
In December, Pembina announced that it was acquiring fellow Canadian midstream company Enbridge’s interest in a pipeline and NGL assets for CA$3.1 billion (US$2.2 billion).
The 2,391-mile Alliance natural gas pipeline runs from Northeastern British Columbia and crosses into the U.S. in the Saskatchewan province, terminating at Channahon, Illinois, at the Aux Sable facility.
Aux Sable is one of the largest NGL extraction and fractionation facilities in North America. Aux Sable Cos. are currently owned by Enbridge, Pembina and Williams in the U.S.
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