On May 26, 2022, AltaGas Ltd. (“AltaGas”) announced an agreement to sell 100% of its interest in ENSTAR Natural Gas (“ENSTAR”) and the Alaska Pipeline Company, and a 65% indirect interest in Cook Inlet Natural Gas Storage Alaska (“CINGSA”) to TriSummit Utilities Inc. (“TriSummit”). The all-cash transaction is valued at approximately C$1.025 billion (US$800 million).
Following completion of the transaction, ENSTAR and CINGSA will continue to operate as standalone utilities and remain headquartered in Alaska with all ENSTAR employees joining TriSummit.
Closing of the transaction is anticipated to take place no later than the first quarter of 2023, subject to customary closing conditions, including state regulatory approvals.
Further information can be found on Newsfile Corp.’s website.
AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy.