New From PetroChem Wire . . . .
NGLs Week is PetroChem Wire's comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.
For more information,
Canada's Inter Pipeline completes acquisition of Williams' Canadian assets
HOUSTON, September 23, 2016 (PCW) -- The sale of Williams' Canadian businesses to Inter Pipeline has concluded, both companies announced Friday. Williams stated that the combined cash proceeds of the sale amounted to $1.38 billion CAD, while Inter Pipeline stated that deal closed for a cash consideration of $1.35 billion CAD, subject to closing adjustments.
The deal was first announced on Aug 8. It includes two NGL and olefinic liquids extraction plants located near Fort McMurray, Alberta, a fractionator near Redwater, Alberta and a 420 kilometer pipeline system that connects these facilities. Inter Pipeline said that it also assumed responsibility for the potential construction of a $1.85 billion propane dehydrogenation facility located near the Redwater fractionator.
The PDH would have a capacity of 1.2 billion lbs/yr. Williams had previously invested about $250 million in the proposed facility and had signed an agreement with privately-held North American Polypropylene to purchase 990 million lbs/yr of PGP on a 25-year term firm fee. The PGP would be consumed by a homopolymer polypropylene plant constructed by NAPP on the same site as the PDH unit. NAPP is an affiliate of private equity firm Goradia Capital.