By CHAT News Today

Enbridge sells Canadian assets for $4.31 billion

Jul 4, 2018 | 10:52 AM

CALGARY — Enbridge has announced the sale of its Canadian natural gas gathering and processing businesses in B.C. and Alberta.

The company will sell its assets at the Montney, Peace River Arch, Horn River and Liard basins to Brookfield Infrastructure for $4.31 billion.

According to a press release announcing a deal, The deal includes 19 natural gas processing plants and liquid handling facilities, along with 3,550 kilometres of natural gas gathering pipelines.

Enbridge has been working reduce its debt load by selling non-core assets.

Separate sales agreements are in place for facilities that are governed by provincial regulations, and those which are governed by federal regulations, the release says. The first phase of closing for the provincial facilities is expected by the end of the year, with the second half of the sale closing by the middle of 2019.

Young minds, big ideas: Elementary students learn about urban planning with 'Box City'

11h ago

HERE'S WHAT TO KNOW

Summer pool hours extended and discounts applied as Big Marble Go Centre upgrades start

Apr 18, 2024

Medicine Hat company drawing in clients with witty signage

Apr 16, 2024