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Plains Midstream Canada buys NGL unit of Westcoast Energy

Staff Writer |
Plains All American Pipeline said that its wholly owned subsidiary Plains Midstream Canada ULC (PMC) has completed the acquisition of the Canadian natural gas liquids (NGL) business from Westcoast Energy.

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Westcoast Energy is a wholly owned subsidiary of Spectra Energy Corp., and the pries is approximately C$267 million ($204 million), including approximately C$67 million ($51 million) for inventory and working capital.

“PMC has been looking for the right opportunity to strengthen our strategic position and further optimize one of our core business areas,” said Dave Duckett, CEO of PMC.

"Integrated with our current infrastructure, these assets create flexibility and optionality in our NGL business platform supporting continued long-term profitability and growth for PMC.”

The acquisition includes an integrated system of assets, consisting of the Empress NGL extraction and fractionation facility, the Petroleum Transmission Company (PTC) pipeline, seven NGL terminals and two NGL storage facilities in Western Canada.

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