Plains Midstream Canada to acquire Empress NGL business

Plains Midstream Canada ULC has entered into a definitive agreement to pay $200 million (Can.) in cash to acquire the ownership interests held by Westcoast Energy Inc. in Spectra Energy Corp.’s Canadian natural gas liquids business. Westcoast Energy is an indirect subsidiary of Spectra Energy.

The transaction includes Westcoast Energy’s Canadian NGL integrated system of assets consisting of the Empress NGL extraction and fractionation facility, the PTC transmission pipeline, seven NGL terminals, and two NGL storage facilities in Western Canada.

Greg Ebel, Spectra Energy president and chief executive officer, noted, “This divestiture reinforces Spectra Energy’s intent to focus on investing in stable, fee-based natural gas infrastructure in Western Canada.

Subject to customary regulatory approvals and other closing conditions, the transaction is expected to close during this year’s first half.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...