The Harlow Report - GIS

ISSN 0742-468X
Since 1978
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Archived Industry Notes: Technology
Published in 2007

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TransCanada to buy El Paso pipeline for $3.4 billion

TransCanada, Canada's biggest pipeline company, and its U.S. affiliate agreed to buy natural gas pipelines and storage facilities from El Paso Corp. for about $3.4 billion in cash, a move that will expand the Canadian company's network by about 40 percent. Houston based El Paso is selling its ANR Pipeline Co., storage facilities in Michigan and a stake in another line to cut debt and improve its creditworthiness. ANR Pipeline is a 10,500 mile system that delivers gas from producing regions in Louisiana, Texas, and Oklahoma to population centers in Illinois, Ohio, and other Midwest states. The acquisitions will lengthen TransCanada's pipeline network to more than 35,600 miles and will nearly triple its capacity to store the fuel, which has been subject to wide swings in price, to 360 billion cubic feet.

Details Here: www.bloomberg.com/apps/news?pid=20601072&sid=aJaT12J56A64&refer=energy

first published week of:   01/05/2007

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