TC Energy offloads Columbia assets for $1.2 billion

Midstream giant TC Energy (formerly TransCanada) is selling Appalachian basin-focused subsidiary Columbia Midstream for US$1.275 billion to help fund its capital programme.

UGI Energy Services will buy the assets, which include four natural gas gathering systems and interest in a fifth, with roughly 2.7 billion British thermal units per day of capacity as well as 240 miles (384 kilometres) of pipeline in the south-western core of the Appalachian basin.