Plains All American Pipeline, L.P. (NYSE: PAA), today announced that its wholly owned subsidiary Plains Midstream Canada ULC ("PMC") has discontinued its joint pursuit with Keyera Corp. of the construction and operation of the proposed Western Reach Pipeline system.
PMC continues to evaluate opportunities to participate in the expected growth in natural gas liquids (NGL) volumes in Alberta's liquids-rich Deep Basin region, whether through the construction of an NGL and condensate pipeline system similar to the proposed Western Reach pipeline, other newly constructed facilities, expansion of existing pipelines or facilities, or a combination thereof.
Plains Midstream Canada, ULC is a wholly owned subsidiary of Plains All American Pipeline, L.P., a publicly traded Partnership (NYSE:PAA) with a market capitalization of over $18 billion.
Plains All American Pipeline, L.P. is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil and refined products, as well as in the processing, transportation, fractionation, storage and marketing of natural gas liquids. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), PAA owns and operates natural gas storage facilities. PAA is headquartered in Houston, Texas.