Enbridge completes $3.1 billion sale of Alliance, Aux Sable pipelines to Pembina Pipeline Corp.
(UI) – Enbridge Inc. has closed on its agreement to sell its 50% interest in Alliance Pipeline and its 42.7% interest in Aux Sable to Pembina Pipeline Corporation for $3.1 billion.
Alliance delivers liquids rich natural gas sourced in Northeast B.C., Northwest Alberta, and the Bakken region to Chicago. Aux Sable operates NGL extraction and fractionation facilities in both Canada and the U.S., with extraction rights on Alliance, offering connectivity to key U.S. NGL hubs.
As part of the transaction, Pembina, a long-standing partner on Alliance and the current operator of Aux Sable, will also assume operatorship of Alliance.
The divestiture represents a key element of Enbridge's financing plan. The sale proceeds will fund a portion of the company's strategic U.S. gas utilities acquisitions and be used for debt reduction.
Related News
From Archive
- DeLa Express seeks FERC approval for Permian-to-Louisiana gas pipeline project
- OSHA penalizes Houston contractor over safety violations resulting in worker's death
- Fiber infrastructure has no known expiration date, Fiber Broadband Association research concludes
- Nevada OSHA fines Elon Musk's Boring Company over safety violations in Vegas tunnel project
- Damage prevention and safety: Turning awareness into action
- Ditch Witch 1030
- Michigan lawmakers introduce bills to create septic codes throughout the state
- Indiana American Water to gain 8,000 water customers with Silver Creek Water acquisition
- Arkansas governor allocates $42 million for water infrastructure projects
- Federal judge finds Flint, Mich, in contempt over lead water pipe crisis
Comments