Enbridge closes sale of Canadian natural gas gathering and processing assets
Published by Aimee Knight,
Enbridge Inc. (Enbridge) has announced the closing of the agreement through which Enbridge has sold a number of federally-regulated natural gas gathering and processing assets in British Columbia (‘G&P Business’) to Brookfield Infrastructure and its institutional partners (collectively, ‘Brookfield’). These federally-regulated assets represent the second phase of the $4.3 B transaction, previously announced on 4 July 2018.
Enbridge has now closed the complete sale of the Canadian G&P Business, which includes 19 provincially and federally-regulated natural gas processing plants and 3550 km of natural gas gathering pipelines in British Columbia and Alberta. Under Brookfield's ownership, the G&P Business is named NorthRiver Midstream Inc.
In addition, the Company has now received total proceeds of approximately CAN$8 billion from previously announced non-core asset sales. These transactions have further focused Enbridge's business on low risk pipeline and utility assets, strengthened Enbridge's balance sheet and provided the Company with additional financial flexibility.
Read the article online at: https://www.worldpipelines.com/business-news/03012020/enbridge-closes-sale-of-canadian-natural-gas-gathering-and-processing-assets/
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