Enbridge Selling Gas Processing Division to Brookfield

Enbridge logo2

CBJ — Enbridge Inc. has agree to sell a sizable amount of its Canadian natural gas gathering and processing business in B.C. and Alberta to Brookfield Infrastructure and its partners for more than $4.3 billion.

The assets being transferred include 19 natural gas processing plants and liquids handling facilities, with a total operating capacity of 3.3 billion cubic feet per day and 3,550 kilometres of natural gas gathering pipelines.

Enbridge has been selling non-core assets in an effort to reduce debt.

With $7.5 billion in deals announced this year the company has more than doubled its initial target of $3 billion according to CEO Al Monaco.

@CanBizJournal

Recommended