Plains Midstream buying Empress NGL for $200 million from Westcoast Energy

VANCOUVER – Westcoast Energy is selling its Canadian gas liquids business for $200 million to Plains Midstream Canada ULC.

The deal includes Westcoast’s Empress extraction and fractionation facility, a transmission pipeline, seven NGL terminals and 2 storage facilities in Western Canada.

Natural gas liquids products include propane, butane and ethane.

The deal was announced by Spectra Energy Corp., which acquired Westcoast Energy in 2002.

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Last year, Spectra recorded a US$333-million impairment of goodwill assets related to Westcoast’s B.C. Field Services business and it is Empress NGL operations.

Plains Midstream Canada – an indirect subsidiary of Plains All American Pipeline LP – owns 28 gas liquids storage facilities, 19 rail terminals and 6 pipeline terminals plus joint ventures in many plants.

Both Plains All American and Spectra Energy are based in Houston.