Pembina Pipeline Corp. has agreed to acquire certain joint venture interests of Enbridge Inc. for $3.1 billion (Can.) (US $2.3 billion).
Through the deal, expected to close in first-half 2024, Pembina will acquire Enbridge’s 50% interest in Alliance Pipeline and its 42.7% interest in Aux Sable.
Alliance delivers liquids rich natural gas sourced in Northeast BC, Northwest Alberta, and the Bakken region to Chicago. Aux Sable operates NGL extraction and fractionation infrastructure in both Canada and the US, with extraction rights on Alliance, offering connectivity to key US NGL hubs.
Upon closing of the deal, Pembina will hold 100% of the equity interests in Alliance, Aux Sable’s Canadian operations and NRGreen and about 85.4% of Aux Sable’s US operations, and Pembina will become the operator of all of the Alliance, Aux Sable and NRGreen businesses.
