Terasen Inc
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Terasen Inc is an energy utility based in Vancouver, British Columbia, Canada.
Terasen's primary business is delivering natural gas but the company also has subsidiaries in other energy sectors.
The company is wholly owned by Texas-based energy investment company Kinder Morgan Energy Partners.
[edit] History
On November 30, 2005 Terasen was acquired by Kinder Morgan Energy Partners, for US$5.6 billion (CAD$6.9 billion). Both shareholders and the British Columbia Utilities Commission approved the transaction, with shareholders voting in favour by 95.6%. Under British Columbian law, the sale of any public utility requires approval from the commission, which reviews corporate transactions for their impact on customers.
[edit] Subsidiaries
- Terasen Gas: Terasen Gas is the largest distributor of natural gas in British Columbia, serving 875,000 customers in over 125 communities.[citation needed] It is regulated by the British Columbia Utilities Commission.
- Terasen Pipelines: A transporter of petroleum in Western North America, including crude oil, refined petroleum and aviation fuel.
- Terasen International: manages engineering projects and provides consulting services.
