TransCanada offers Iroquois, PNGTS shares to MLP

摘要

TransCanada Corp. has offered to sell 49.3 interest in Iroquois Gas Transmission System LP, together with its remaining 11.8 interest in Portland Natural Gas Transmission System (PNGTS), to its master limited partnership, TC PipeLines LP. The 416-mile Iroquois pipeline transports natural gas under long-term contracts from the TransCanada Mainline system at the US border near Waddington, NY, to the US Northeast, including New York City, Long Island, and Connecticut. Iroquois is jointly owned by affiliates of TransCanada and Dominion Resources Inc. through a joint venture.