August 2019, Vol. 246, No. 8

Global News

TC Energy sells $1.28B of Columbia Midstream Assets to UGI

TC Energy said it has agreed to sell some of its Columbia Midstream assets in the Appalachian Basin to energy distributor UGI Corporation for $1.28 billion.

The acquisition significantly expands UGI’s midstream portfolio and provides an opportunity to invest an additional $300 - $500 million over the next five years, the company said. Columbia Midstream Group holds five natural gas gathering systems with capacity of roughly 2,675,000 MMBtu/d and 240 miles of pipeline in the southwestern core of the Appalachian Basin.

TC Energy, formerly TransCanada, said the sale excludes any interest in the company’s minerals business in the Appalachian basin, Columbia Energy Ventures Company.

The transaction is expected to close in UGI’s fiscal fourth quarter, which ends Sept. 30. P&GJ

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