TC PipeLines LP (TCPL) has agreed to acquire the remaining 30% interest in Bison Pipeline LLC from TransCanada Corp. for $215 million.
The Bison pipeline transports Rocky Mountain natural gas to the US Midwest through a connection with the partnership’s Northern Border Pipeline. The pipeline is supported by long-term ship-or-pay contracts that extend through 2020.
TCPL in 2013 acquired an additional 45% interest Bison Pipeline from TransCanada Corp. as part of a $1.05 billion deal, expanding TCPL’s overall interest at the time to 70% from 25% (OGJ Online, May 16, 2013).
TCPL is a Delaware master limited partnership with interests in six federally regulated US interstate natural gas pipelines serving markets in the US West and Midwest.