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Spectra Energy Completes Sale of Nevis and Brazeau River Midstream Facilities to Keyera Facilities Income Fund Spectra Energy announced it has completed the previously announced sale of Spectra Energy Midstream's Nevis and Brazeau River natural gas gathering and processing facilities to Keyera Facilities Income Fund, at a sale price of approximately CDN $129 million, subject to normal closing adjustments.
The assets sold consist of 87 (net) million cubic feet per day (mmcf/d) of sour gas processing capacity, an acid gas injection facility and an extensive sour gas gathering pipeline network at Brazeau River in Alberta, as well as 150 mmcf/d of sour gas processing capacity, a natural gas liquid fractionation and storage facility, and 354 kilometers of low-pressure gas gathering pipeline associated with Nevis in Alberta.
Spectra Energy Midstream, a wholly-owned subsidiary of Westcoast Energy Inc., previously held a 100-percent ownership interest in the Nevis facilities located 30 kilometers west of Stettler, Alberta. The company had a minority ownership interest in a processing and acid gas injection plant and some related gathering facilities (operated by Keyera) located at Brazeau River, 170 kilometers southwest of Edmonton, Alberta, and a 100-percent ownership interest in compression and certain other gathering facilities connected to the Brazeau River plant. |
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