TC Energy completes sale of Portland Natural Gas Transmission System

Aug 16, 2024

Share
Share
Tweet

TC Energy Corp. THE CANADIAN PRESS/Todd Korol

CALGARY — TC Energy Corp. says it and its partner have successfully completed the sale of Portland Natural Gas Transmission System.

Earlier this year, the companies announced they were selling the U.S. pipeline for US$1.14 billion to a BlackRock fund and investment funds managed by Morgan Stanley Infrastructure Partners.

The partner, Northern New England Investment Company, is a subsidiary of Énergir L.P.

The purchase price includes the assumption of US$250 million in debt.

TC Energy says cash proceeds will be split according to the two partners’ ownership interests prior to the sale, with the Calgary-based company owning 61.7 per cent and Énergir holding 38.3 per cent.

TC Energy president and CEO François Poirier says completing the transaction takes the company closer to achieving its goals, including delivering on $3 billion in asset divestitures.

This report by The Canadian Press was first published August 15, 2024.

Companies in this story: (TSX:TRP)

The Canadian Press

  • 0081 OSY 2024 hockey draft
    0081 OSY 2024 hockey draft
  • 0080 Turnbull Clarence 25 years
    0080 Turnbull Clarence 25 years
  • 0077 Caprice Resources Stand Up For Free Speech
    0077 Caprice Resources Stand Up For Free Speech
  • 0076 Latus only
    0076 Latus only
  • 0061 SIMSA 2024 For Sask Buy Sask
    0061 SIMSA 2024 For Sask Buy Sask
  • 0058 Royal Helium Steveville opens anonymous rocket
    0058 Royal Helium Steveville opens anonymous rocket
  • 0055 Smart Power Be Smart with your Power office
    0055 Smart Power Be Smart with your Power office
  • 0051 JML Hiring Pumpjack assembly
    0051 JML Hiring Pumpjack assembly
  • 0049 Scotsburn Dental soft guitar
    0049 Scotsburn Dental soft guitar
  • 0046 City of Estevan This is Estevan
    0046 City of Estevan This is Estevan
  • 0041 DEEP Since 2018 now we are going to build
    0041 DEEP Since 2018 now we are going to build
  • 0032 IWS Summer hiring rock trailer music
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0018 IWS Hiring Royal Summer
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0002 gilliss casing services
    0002 gilliss casing services
  • 9002 Pipeline Online 30 sec EBEX
    9002 Pipeline Online 30 sec EBEX
  • 9001