Pipeline Operator TC Energy Exploring Multi-Billion-Dollar Asset Sale
(Reuters) - Canadian pipeline operator TC Energy is exploring a multibillion-dollar asset sale plan to lower its debt and fund new investments, Bloomberg News reported on Friday, citing people familiar with the matter.
The company is working on the sale of a minority stake in ANR Pipeline, estimated at an enterprise value of about $3 billion, as well as a minority stake in its Mexican operation and stakes in Portland Natural Gas Transmission System and the Millennium Pipeline, the report added.
No final decisions have been made and TC Energy could opt to keep some or all of the assets, according to the report.
TC Energy did not immediately respond to a Reuters request for comment.
Earlier this year, TC sold a 40% interest in its Columbia Gas Transmission and Columbia Gulf Transmission pipelines to Global Infrastructure Partners (GIP) for C$5.3 billion ($3.82 billion).
The company had also outlined plans to spin off its liquids pipeline business.
Related News
Related News
- Trump Puts Keystone XL Pipeline Back in Discussion, Though Revival Faces Developer Resistance
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Energy Transfer Wins New York Court Ruling in $150 Million Pipeline Fraud Case
- $3 Billion Natural Gas Pipeline Expansion to Add 1.3 Bcf Capacity in Southeast Region
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- India’s GAIL Eyes U.S. LNG Deals Following Trump’s Policy Shift
- TC Energy Beats Q4 Profit Estimates, Driven by Mexico Pipelines' Success
- Michigan Court Backs Permits for Enbridge’s Line 5 Pipeline Tunnel Project
Comments