Achi news desk-
Pembina Pipeline Corp. says that it has closed its previously announced $3.1 billion purchase of Enbridge Inc.’s stake. in the Alliance pipeline and the Aux Sable gas processing facility.
The completed transaction sees Calgary-based Pembina – which already owned 50 per cent of Alliance and 42.7 per cent of Aux Sable – acquire 50 per cent ownership of Alliance Enbridge and 42.7 per cent ownership of Aux Sable.
As part of the transaction, Pembina, the current operator of Aux Sable, becomes the sole operator of Alliance.
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The Alliance pipeline is a 3,848-kilometer pipeline extending southeast from BC that brings gas into Aux Sable in Chicago, one of the largest natural gas liquids processing facilities in North America.
On Monday, Pembina updated its 2024 adjusted EBITDA guidance to between $4.05 billion and $4.30 billion, up from previous guidance between $3.7 billion and $4.0 billion.
The company says the revised outlook reflects the increased contribution from increased ownership of Alliance and Aux Sable, as well as a stronger outlook for its marketing business.
& copy 2024 The Canadian Press
