By OGJ editors
HOUSTON, Mar. 25 -- Duke Energy Corp., Charlotte, NC, sold its 30% interest in Vector Pipeline to Enbridge Inc., Calgary, and DTE Energy Co., Detroit, for a total of $145 million.
Enbridge and DTE currently own 70% of the Vector pipeline. Each paid $72.5 million for a 15% share of Duke Energy's ownership stake. Enbridge owns 60% of Vector with DTE owning 40%.
The 348-mile Vector Pipeline transports Western Canadian natural gas from the Chicago-area market hub in Joliet, Ill., to the hub at Dawn, Ontario.
Duke Energy acquired ownership interest in the pipeline through its $8.5 billion acquisition of Westcoast Energy Inc. of Vancouver, BC (OGJ Online, Sept. 21, 2001).
