TransCanada purchases Columbia Pipeline Group
Monday, March 21, 2016
TransCanada Corp. purchased Columbia Pipeline Group Inc. for $10.2 billion, according to Bloomberg.
The deal includes more than 15,000 miles of gas pipeline, underground gas storage and processing facilities. As gas production has increased in Appalachia, TransCanada wanted to increase its presence in the region. The deal will allow it to get a pipeline in the Marcellus shale.
The source reports that after the Keystone XL oil pipeline project fell through, TransCanada sued the U.S. government and has been trying to get $15 billion in costs and damages from the failed deal.
Read more: Bloomberg > TransCanada Locks in Growth With $10.2 Billion Pipeline Deal
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