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
- Trench collapse kills one construction worker in Houston, Texas
- Intrepid Fiber breaks ground on fiber optic network in Superior, Colo.
- Excavator collides with I-95 overpass in Henrico, Va., causing multi-vehicle crash
- Shrewsbury, Mass., expands sewer inspections and cleaning efforts
- Construction worker killed in trench collapse near Prosperity, S.C.
- Final construction phase kicks off for Indianapolis deep rock tunnel
- Texas contractor penalized by OSHA for repeated trench safety violations
- Trench collapse kills one construction worker in Houston, Texas
- WES tunnel boring machine retrieved from Oregon river after seven-month project
- Illinois overhauls Peoples Gas pipeline program, mandates focus on high-risk pipes
Comments