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Business Overview

Created in 1997, Inter Pipeline Fund is a major petroleum transportation, storage and natural gas liquids extraction business based in Calgary, Alberta, Canada. Inter Pipeline is a publicly traded limited partnership that owns and operates a diversified combination of energy infrastructure assets in western Canada, the United Kingdom, Denmark, Germany and Ireland. This asset portfolio generates long-term and predictable cash flows, thereby providing unitholders with a growing and stable source of monthly cash distributions.

Pipeline Operations

Inter Pipeline operates approximately 6,300 kilometres of petroleum pipelines and 4.8 million barrels of storage in western Canada. These systems transport approximately 990,000 barrels per day of oil sands bitumen and conventional crude oil in 2012, representing approximately 15% of total western Canadian conventional volumes and roughly 40% of oil sands volumes.

Natural Gas Liquids Extraction

Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta.

Bulk Liquid Storage

Inter Pipeline's bulk liquid storage business segment is the fourth largest independent tank storage business in Europe. The bulk liquid storage segment operates through two wholly owned entities. Simon Storage Limited holds Inter Pipeline's storage operations in the United Kingdom, Ireland and Germany. Inter Pipeline's other European entity, Inter Terminals, holds bulk liquid storage assets in Denmark.

Simon Storage is a recognized leader in the bulk liquid storage sector. Simon handles, blends and stores over 250 different products primarily comprised of petroleum, petrochemical and alternative fuels. Simon owns and operates eight bulk liquid storage terminals located on the coasts of the United Kingdom, Germany and Ireland with a combined liquid storage capacity of approximately eight million barrels. Other complementary services include facilities management and engineering services to several of the world's largest integrated energy companies.

Inter Terminals operates four large terminals that are strategically located along the Danish Straits, the third most active petroleum transit channel in the world. The four terminals have a combined storage capacity of approximately 11 million barrels in 49 tanks. A variety of petroleum products are handled at the four terminals.