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.
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