Energy company Pembina Pipeline Corp. said it has received approval from the Canadian Competition Bureau on Nov. 20, to buy Kinder Morgan Canada Ltd.
The company said the approval satisfies the last regulatory condition necessary for the deal to close.
In August, Pembina Pipeline had agreed to buy Kinder Morgan Canada and the U.S. portion of the Cochin pipeline for $3.27 billion, bulking up its storage resources in Canada.
Pembina’s deal follows an unsolicited bid for rival Inter Pipeline Ltd., highlighting growing interest in the midstream business of transporting and storing crude.
The deal is expected to close next month, and is contingent on approval by Kinder Morgan Canada shareholders at a special meeting scheduled on Dec. 10.
Cheniere, the biggest U.S. LNG exporter, said in a filing earlier this week that its proposed process would prioritize work on one tank, known as S-101, and allow that tank to return to service in the near term.
The energy regulator has approved three new LNG export projects plus an expansion of an existing facility in Texas, though the facilities are not guaranteed to go forward.
Political and legal questions threaten the development of the sprawling region’s multiple plays.