TC Energy Corp. has signed a deal to sell U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services LLC for $1.7 billion.
Columbia Midstream Group owns four natural gas gathering systems and an interest in a company with gathering, processing and liquids assets in the Appalachian Basin.
TC Energy Russ Girling says the sale is part of the company’s efforts to prudently fund its portfolio of natural gas pipeline, liquids pipelines and power generation projects.
Get breaking National news
The deal is expected to close in the third quarter of this year, subject to closing adjustments and customary regulatory approvals.
The sale does not include Columbia Energy Ventures Co., TC Energy’s minerals business in the region.
TC Energy, which changed its name from TransCanada this year, said it also continues to own and operate its network of interstate pipelines in the Appalachian Basin with its Columbia Gas Transmission system.
- Calgary Flames forward Jonathan Huberdeau to have season-ending hip surgery
- Calgary jewelry store owner loses fortune in gold to late night smash-and-grab
- Calgary man who joined ISIS in 2013 receives 16-year prison sentence
- Motherhood, family bring new perspective to Games for 3-time Canadian Olympian
Comments