Enbridge acquires Montney natural gas assets

Enbridge Inc. has announced the USD $538 million acquisition of Tupper Main and Tupper West gas plants and associated pipelines in north-eastern British Columbia (B.C.), from the Canadian subsidiary of Murphy Oil Corporation (Murphy).

“This acquisition fits extremely well with Enbridge’s low-risk value proposition and supports our key priority of extending and diversifying growth,” said C. Gregory Harper, President of Gas Pipelines and Processing. “These assets, which are currently in operation, are underpinned by long-term contracts that generate highly predictable cash flows. They also enhance our natural gas footprint within the Montney, one of the most attractive gas plays in North America, and add gas processing services in proximity to our existing Sexsmith gathering system.”

Located 35 kilometers southwest of Dawson Creek, B.C., the Tupper Main and Tupper West plants are adjacent to Enbridge’s existing Sexsmith gathering system and close to the Alliance pipeline, which is 50% owned by Enbridge Income Fund. Tupper Main was placed into service in late 2008 and has a licensed capacity of 110 MMcf/d. Tupper West went into service in early 2011 and has a licensed capacity of 210 MMcf/d. The assets include approximately 53 kilometers of high pressure pipelines.

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