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Enbridge closes sale of Canadian natural gas gathering and processing assets

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World Pipelines,

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.

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This article has been tagged under the following:

B.C. pipeline news Canada pipeline news Enbridge pipeline news