Canada’s Tidewater, TransAlta close gas pipeline sale
Canada’s Tidewater Midstream and Infrastructure and utility TransAlta said June 30 they had closed the previously-announced sale of their Pioneer Pipeline to ATCO Gas and Pipelines.
Gross proceeds were C$255mn (US$206mn), consisting of net cash proceeds of C$135mn and cash consideration for budgeted restoration work completed by Tidewater at TransAlta’s cost.
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The 131-km pipeline extends from Tidewater’s Brazeau River complex in west central Alberta to TransAlta’s Sundance and Keephills power generating stations west of Edmonton, which are both in the process of being converted to gas from coal. It will now be integrated into the Nova Gas Transmission Limited (NGTL) and ATCO Gas and Pipelines transmission systems.