Pembina Receives Regulatory Approval to Acquire Enbridge's Interest in Joint Ventures
(Reuters) — Pembina Pipeline said on Tuesday the Canadian Competition Bureau has approved its proposed C$3.1 billion ($2.28 billion) acquisition of Enbridge's interests in the Alliance, Aux Sable, and NRGreen joint ventures.
The deal is expected to close on April 1, Pembina said.
Alliance delivers liquids-rich natural gas sourced in Northeast B.C., Northwest Alberta and the Bakken region to Chicago.
Aux Sable operates natural gas liquids (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.
Enbridge announced the deal in December to reduce its debt following its $14 billion offer for three of Dominion Energy's natural gas distribution companies in September.
($1 = 1.3568 Canadian dollars)
Related News
Related News
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- Another Major U.S. Oil Refinery Shutting Down as Lyondell Confirms Houston Closure
- Chevron CEO Wirth Under Fire as Hess Deal Delay Drags Down Stock Performance
Comments