Inter Pipeline to buy Corridor line from Kinder Morgan

Inter Pipeline Fund of Calgary has agreed to purchase the shares of the Corridor pipeline system owned by Kinder Morgan Inc. for $760 million (Can.), including debt.

March 5, 2007

By OGJ editors
HOUSTON, March 5 -- Inter Pipeline Fund of Calgary has agreed to purchase the shares of the Corridor pipeline system owned by Kinder Morgan Inc. for $760 million (Can.), including debt.

Additionally, Inter Pipeline will assume all debt associated with Corridor's current expansion. The pipeline transports diluted bitumen from the Athabasca Oil Sands Project near Fort McMurray, Alta., to the Scotford Upgrader near Fort Saskatchewan, Alta.

Kinder Morgan Chairman and Chief Operating Officer Richard D. Kinder said the sale will help reduce debt. The transaction does not include any other of Kinder Morgan's Canadian assets.

Closing is expected in the second quarter.