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TransCanada offers stakes in Iroquois, Portland gas pipelines to US MLP

Feb 28, 2017 - SNL Energy Finance Daily

TransCanada Corp. offered to drop down a 49.3% stake in the Iroquois Gas Transmission System LP and remaining 11.8% stake in Portland Natural Gas Transmission System LP, or PNGTS, to its master limited partnership TC PipeLines LP, as part of its $23 billion near-term capital program.

The deal has been approved by TransCanada's board of directors and is subject to approval by TC PipeLines' board, among other regulatory requirements, according to a Feb. 27 news release. The deal is subject t

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