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TC Energy selling Portland Natural Gas Transmission System for US$1.14 billion

  • TC Energy is selling the Portland Natural Gas Transmission System for US$1.14 billion. BlackRock, through a fund managed by its diversified infrastructure business, is the buyer.
  • PNGTS is a 475-kilometre natural gas pipeline system serving upper New England and Atlantic Canada markets. It receives gas from the Trans Quebec and Maritimes Pipeline.
  • The sale is expected to close in mid-2024, pending regulatory approvals and customary closing conditions.
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