Canadian giant sells its key pipeline

   232

Enbridge, Canadian largest pipeline company, announced a sale of its key networks, in Saskatchewan, for US$1.08 billion. Oilprice.com informs that the buyer of the pipeline is a private energy infrastructure company Tundra Energy.

The Enbridge’s pipeline system in the South East Saskatchewan includes approximately 1,600 km of pipelines that transport crude oil and liquid hydrocarbons, one trunk line, and four truck terminals. Its average daily throughput is estimated at about 175,000 barrels of crude.

The deal became one of the steps of Enbridge’s’ plan to divest a significant part of its assets worth US$2 billion. According to the Globe and Mail, the Canadian giant is going to merge with Spectra Energy, which would mean the largest energy infrastructure company in North America. Under the terms of the deal Enbridge will own 57 percent of the joint company and Spectra will get the remaining 43 percent. It is expected that the new organization will have assets in crude oil, liquids and natural gas pipelines, terminal and midstream operations.