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PAA spends $1.67B on BP's Canadian NGL business
Deal gives Plains premier position on both supply and demand sides
Plains All American Pipeline LP has agreed to purchase BP’s natural gas liquids and liquid petroleum gas business in Canada at a price tag of $1.67 billion. The move strengthens PAA’s foothold in vital U.S. operations by allowing the company to process gas from strategic formations including the Bakken and Marcellus. The acquisition also builds upon PAA’s impressive 16,000 miles of pipeline and cements it as one of the premier NGL service providers in North America. Completion of the deal ...
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