Talisman buys Canadian gas gathering systems

Canadian company Talisman Energy Inc. has purchased the Central Foothills Gas Gathering and the Columbia Minehead Gas Gathering systems from subsidiaries of TransCanada PipeLines Ltd., said Talisman Tuesday. TransCanada has been selling noncore properties.

The two major gas gathering systems comprise over 300 km of pipe. They connect the Western Canada Sedimentary Basin and major sour gas processing facilities, including the Talisman-operated Edson gas plant.

"Our goal is to increase and consolidate our participation in the North American gas business,'' said Jim Buckee, Talisman president and CEO. "It's important both in terms of giving us transportation and processing options for our Foothills and Greater Edson area gas production and ensuring the long-term future of our Edson plant, one of our largest gas plants in Western Canada. It will also give us enhanced access to a new core gas exploration area.''

The transaction closed Sept. 15.

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