Enbridge Inc. and Brookfield Infrastructure and its institutional partners (Brookfield) have announced the closing of the provincially regulated portion of the agreement through which Enbridge will sell its Canadian natural gas gathering and processing business in the Montney, Peace River Arch, Horn River and Liard basins in British Columbia and Alberta to Brookfield.
The provincially regulated business represents US$2.5 billion of the US$4.31 billion transaction, previously announced on 4 July 2018.
The assets include 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 assets will be named NorthRiver Midstream Inc.
The sale of the remaining federally regulated assets is expected to close in mid-2019.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/02102018/enbridge-and-brookfield-announce-closing-of-provincially-regulated-portion-of-natural-gas-gathering-and-processing-transaction/