Plains Midstream buying Empress NGL for $200M
Deal includes Westcoast Energy’s extraction and fractionation facility, pipeline, NGL terminals and storage facilities.
VANCOUVER — Westcoast Energy is selling its Canadian natural gas liquids business for $200 million to Plains Midstream Canada ULC.
The deal includes Westcoast’s Empress extraction and fractionation facility, a transmission pipeline, seven NGL terminals and two storage facilities in Western Canada.
Natural gas liquids products include propane, butane and ethane.
The deal was announced by Spectra Energy Corp., which acquired Westcoast Energy in 2002.
Last year, Spectra recorded a US$333-million impairment of goodwill assets associated with Westcoast’s BC Field Services business and its Empress NGL operations.
Plains Midstream Canada – an indirect subsidiary of Plains All American Pipeline LP – owns 28 natural gas liquids storage facilities, 19 rail terminals and six pipeline terminals plus joint ventures in a number of plants.
Both Plains All American and Spectra Energy are based in Houston.
© 2016 The Canadian Press