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
- Williams' $1 Billion Gas Pipeline Blocked by U.S. Appeals Court, Derailing Five-State Project
- Texas Waha Hub Gas Prices Plunge to Record Lows, Hit Negative Territory
- Williams Begins Louisiana Pipeline Construction Despite Ongoing Legal Dispute with Energy Transfer
- U.S. Buys Nearly 5 Million Barrels of Oil for Emergency Stockpile
- U.S. Appeals Court Strikes Down Controversial Biden Pipeline Safety Rules
- Nigeria’s New Pipeline Project Is Never Done Until It Is Done
- Report: Houston Region Poised to Become a Global Clean Hydrogen Hub
- Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece
- LaPorte, Texas, Issues Shelter in Place After Altivia Plant Leaks Toxic Gas
- Texas Startup Endeavors Again to Build First Major U.S. Oil Refinery Since 1977
Comments