Under the deal, BC Gas, along with the Ontario Municipal Employee Retirement System and the Ontario Teachers’ Pension Plan Board will assume US$380 million in debt.
EnCana, one of North America’s biggest independent oil explorers and producers, said last year that it wanted to sell the pipeline to concentrate on its main businesses. The 2,747-km Express system consists of two major pipelines: the Express segment carries up to 172,000brl/d of crude oil to Casper, Wyoming, from Hardisty, Alberta. The 150,000brl/d Platte portion extends to Wood River, Illinois, from Casper.
