Pembina Pipeline history

Four years later it made its second move, buying half of the Bonnie Glen System, a 250 km long network serving oil fields in central Alberta. It wasn’t until the 4th quarter of 1997 that Pembina joined the Toronto Stock Exchange, going public with an IPO of over $600 mn; at the same time it converted to an income fund (trust). 1997 was also the year Inter Pipeline Fund the leading transporter of oilsands bitumen, was established.

Three years later in 2000 Pembina made its biggest move to date that doubled its size overnight when it took over Federated Pipe Lines Ltd which added 3,200 km of pipeline to Pembina’s transportation network.

In 2003 Pembina completed an expansion of the AOSPL line, which boosted the pipeline’s capacity by 275,000 bbls/d.

Completed in mid-2004 for $164 million.

In 2007 the Cheecham Lateral was completed, the pipeline serves oil sands producers operating southeast of Fort McmUrray, Alberta.

In June 2009, Pembina made a strategic entry into the Gas Services business when they acquired the Cutbank Complex for $300 million.

In October 2010, Pembina Pipeline Income Fund was converted to Pembina Pipeline Corporation.

Announced $550 million capital spending plan for 2012, targeted at projects in conventional pipelines and gas services businesses.

In 2017, it purchased Veresen, a rival energy infrastructure company, for $9.7 billion.