• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 8 minutes The Inconvenient Truth Of Electric Cars
  • 2 mins The Plastics Problem
  • 9 hours Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 2 hours To be(lieve) or Not To be(lieve): U.S. Treasury Secretary Says U.S.-China Trade Deal Is 90% Done
  • 4 hours SHALE MAGIC: Let the oil flow: US to lead oil output growth through 2030: ConocoPhillips chief economist
  • 4 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 54 mins EIA reports 12 mm bbls Inventory draw . . . . NO BIG DEAL . . . because U.S. EXPORTED RECORD 12 MILLION BARRELS DAY OF CRUDE + PETROLEUM PRODUCTS ! ! ! THAT'S HUGE !
  • 9 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 17 mins Its called reality: Economic, policy challenges to make Asia's energy transition painfully slow
  • 21 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 17 hours Hard To Believe: UAE Will Work To Defuse Middle East Tension
  • 11 hours Cap and trade: What could Oregon’s carbon policy cost you?
  • 4 hours On the hobby side of things
  • 22 hours The Strait of Hormuz is the world’s most important oil transit chokepoint
China Launches World’s First Smart Oil Tanker

China Launches World’s First Smart Oil Tanker

China unveiled the world’s first…

Venezuela’s Oil Production Set For Another Drop

Venezuela’s Oil Production Set For Another Drop

Venezuela’s oil production keeps on…

Two Pension Fund Groups Bid for TransCanada's $2B Mexican Pipeline

Pipeline Welding

A TransCanada Mexican pipeline is drawing significant interest from pension funds. Canada Pension Plan Investment Board, Public Sector Pension Investment Board and Borealis Infrastructure Corp. have created a consortium in order to purchase up to 49.9 percent of the business, which has been estimated to be worth some US$2 billion.

Caisse de Depot et Placement du Quebec’s new Mexican joint venture, CKD Infraestructura Mexico SA, are also interested in purchasing stakes, along with three other unnamed businesses.

That information comes from a source with knowledge of the situation who spoke to Bloomberg but asked not to be identified. TransCanada spokesman Mark Cooper has confirmed the company is seeking investors but would not comment beyond that. The Calgary-based company is trying to sell its minority stake in the pipeline, along with power plants in the northeastern United States to generate cash to buy Columbia pipeline Group Inc. That deal is estimated at US$10.2 billion.

Mexico is increasingly drawing the attention of investors. The country recently began a US$411 billion plan for its infrastructure, focusing on transportation and energy. Canada Pension and the Ontario Teacher’s Pension Plan already made an investment last month in a toll road operator in Mexico.

In June, the company announced it would build and operate a US$2.1 billion natural gas pipeline in Mexico. The company said it would parent with Sempra Energy’s IEnova unit, with TransCanada owning a 60 percent stake in the venture. The effort will be backed by Mexico’s state-owned power company and is expected to be in service by 2018. TransCanada recently made news in the United States when it announced a lawsuit against the state because of the suspension of the controversial Keystone XL pipeline project.

By Lincoln Brown for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News