HOUSTON, Aug. 4, 2016 /CNW/ -- Spectra Energy Corp (NYSE: SE) today announced that its indirect subsidiary, Westcoast Energy Inc., has completed the previously announced sale of its ownership interests in Spectra Energy's Canadian natural gas liquids (NGL) business to Plains Midstream Canada ULC, for a cash purchase price of approximately C$267 million (USD $204 million), including approximately C$67 million (USD $51 million) for inventory and working capital.
Spectra Energy Corp (NYSE: SE), a FORTUNE 500 company, is one of North America's leading pipeline and midstream companies. Based in Houston, Texas, the company's operations in the United States and Canada include approximately 21,000 miles of natural gas and crude oil pipelines; approximately 300 billion cubic feet of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy is the general partner of Spectra Energy Partners (NYSE: SEP), one of the largest pipeline master limited partnerships in the United States and owner of the natural gas and crude oil assets in Spectra Energy's U.S. portfolio. Spectra Energy also has a 50 percent ownership in DCP Midstream, the largest producer of natural gas liquids and the largest natural gas processor in the United States. Spectra Energy has served North American customers and communities for more than a century. For more information, visit www.spectraenergy.com.
SOURCE Spectra Energy Corp
For further information: Media: Phil West, (713) 627-4964 or (713) 627-4747 (24-hour media line); Analysts and Investors: Roni Cappadonna, (713) 627-4778, http://www.spectraenergy.com