TC Energy to sell Portland Natural Gas Transmission System for $1.14 bln
March 4, 2024
TC Energy (TRP.TO), opens new tab said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to a BlackRock-managed fund and Morgan Stanley Infrastructure Partners for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments.
The Calgary, Alberta-based company, best known for its Keystone oil pipeline, is undergoing an overhaul and had said last year that it would spin off its liquids business to focus on transporting natural gas.
