Enbridge to buy US Gulf Coast gas storage facility for $335 million (updated)

Brookfield Infrastructure Partners LP

01/03/2023 12:24

(Updates with details on the deal)
       March 1 (Reuters) - Canadian pipeline operator Enbridge
Inc  ENB.TO  said on Wednesday it would buy a gas storage
facility in the U.S. Gulf Coast region from Brookfield
Infrastructure Partners  BIP.N  and Crestwood Equity Partners
 CEQP.N  for $335 million.
        The Tres Palacios gas storage facility serves gas-fired
power generation in Texas and Mexico.
        The deal is expected to close in the second quarter.
        The pipeline operator also said it has decided to
proceed with the construction of the Enbridge Houston Oil
Terminal for an initial capital cost of $240 million.

 (Reporting by Sourasis Bose in Bengaluru; Editing by Saumyadeb
Chakrabarty)
 ((Sourasis.Bose@thomsonreuters.com;))