Spectra Energy Partners LP and Spectra Energy Corp. will drop down Spectra Energy’s remaining U.S. transmission, storage and liquids assets to Spectra Energy Partners. The transaction is expected to close by year-end.
The assets to be dropped down provide transportation and storage of natural gas, crude oil and (NGLs) for customers in the U.S. and Alberta, Canada. The pipeline systems involved include Texas Eastern Transmission LP, Algonquin Gas Transmission LLC, Express-Platte Pipeline System (50%), Southeast Supply Header LLC (50%), Maritimes & Northeast Pipeline LLC (38.77%), Sand Hills Pipeline (33.3%), Southern Hills Pipeline (33.3%) and Gulfstream Natural Gas System LLC (1%).
The natural gas and crude oil storage businesses included in the drop-down consist of: Bobcat Gas Storage; of Market Hub Partners (50%), Steckman Ridge LP (50%), Texas Eastern’s storage facilities and Express-Platte’s storage facilities.