Enbridge finalizes sale of B.C. NG assets to Brookfield
Enbridge Inc. today announced the closing of the agreement through which Enbridge has sold a number of federally-regulated natural gas gathering and processing assets in British Columbia to Brookfield Infrastructure and its institutional partners.
These federally-regulated assets represent the second phase of the $4.3 B transaction, previously announced on July 4, 2018.
Enbridge has now closed the complete sale of the Canadian G&P Business, which includes 19 provincially and federally-regulated natural gas processing plants and 3,550 kilometres of natural gas gathering pipelines in British Columbia and Alberta.
Under Brookfield’s ownership, the G&P Business is named NorthRiver Midstream Inc.
In addition, the company has now received total proceeds of approximately $8 billion from previously announced non-core asset sales.
These transactions have further focused Enbridge’s business on low-risk pipeline and utility assets, strengthened Enbridge’s balance sheet and provided the company with additional financial flexibility.