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 Oct. 27, citing people familiar with the matter.
The company is working on the sale of a minority stake in ANR Pipeline, with an estimated 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 CA$5.3 billion (US$3.82 billion).
The company had also outlined plans to spin off its liquids pipeline business.
Recommended Reading
SM Energy Adds Petroleum Engineer Ashwin Venkatraman to Board
2024-12-04 - SM Energy Co. has appointed Ashwin Venkatraman to its board of directors as an independent director and member of the audit committee.
Baker Hughes Wins Contracts for Woodside’s Louisiana LNG Project
2024-12-30 - Bechtel has ordered gas technology equipment from Baker Hughes for the first phase of Woodside Energy Group’s Louisiana LNG development.
Chevron Names Laura Lane as VP, Chief Corporate Affairs Officer
2025-01-13 - Laura Lane will succeed Al Williams in overseeing Chevron Corp.’s government affairs, communication and social investment activities.
Plains All American Prices First M&A Bond of Year
2025-01-13 - U.S. integrated midstream infrastructure company Plains All American Pipeline on Jan. 13 priced a $1 billion investment-grade bond offering, the year's first to finance an acquisition.
Gigablue Enters CCS Agreement with Investment Firm SkiesFifty
2025-01-14 - Carbon removal company and investment firm SkiesFifty have partnered to sequester 200,000 tons of CO2 over the next four years.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.