By OGJ editors
HOUSTON, Apr. 3 -- Northern Border Partners LP, Omaha, plans to buy an additional 66.6% of Guardian Pipeline LLC from two Wisconsin companies for $77 million total, giving it 100% of the system.
WPS Resources Corp. and Wisconsin Energy Corp. each agreed to sell its 33.3% stake. The purchase is expected to close by Apr. 30, subject to approvals.
Guardian Pipeline is a 143-mile interstate gas pipeline system with a capacity of 750,000 dekatherms/day (dth/d) between Joliet, Ill., and Ixonia, Wis.
On Feb. 7, Guardian announced plans to expand and extend the pipeline 106 miles from Ixonia to the Green Bay area. The expansion would bring an additional 537,200 dth/d of capacity to eastern Wisconsin.
Capital costs are estimated at $200-250 million, and construction could begin after US Federal Energy Regulatory Commission approval, expected in late 2007. The project is targeted for completion in November 2008.
