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TC PipeLines completes its acquisition pipeline interests

Published by
World Pipelines,

TC PipeLines, LP (TCP) has announced the closing of its previously announced acquisition of a 49.3% interest in Iroquois Gas Transmission System, LP (Iroquois) from subsidiaries of TransCanada Corp. (TransCanada) together with TransCanada's remaining 11.8% interest in the Portland natural gas transmission system (PNGTS) for a total purchase price of approximately US$765 million, effective 1 June 2017.

The acquisition is expected to be immediately accretive to the partnership's earnings and distributable cash flow.

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US pipeline news Natural gas pipeline news