By OGJ editors
HOUSTON, Feb. 17 -- TransCanada Corp. plans to sell its 17.5% general partner interest in Northern Border Partners LP to a Oneok Inc. subsidiary for $30 million and become operator of Northern Border Pipeline (NBPL) in early 2007.
The transactions are subject to closing conditions and regulatory approvals. Also, TC PipeLines LP, in which TransCanada holds a 13.4% interest, will acquire an additional 20% interest in NBPL from Northern Border Partners. This will increase TC PipeLine's total general partnership interest in NBPL to 50%.
The 1,249-mile Northern Border Pipeline carries as much as 2.4 bcfd of natural gas from the Montana-Saskatchewan border, where it connects with TransCanada's Foothills System, to interconnecting pipelines in the US Midwest.
