TC Energy Corp. has inked a $1.14 billion agreement to sell the Portland Natural Gas Transmission System (PNGTS) to BlackRock Inc. and Morgan Stanley Infrastructure Partners as it pares debt and streamlines its North American pipeline business. 

The Calgary-based pipeline giant holds 61.7% ownership of PNGTS, a 295-mile, 290 million Dth/d line. Énergir LP subsidiary Northern New England Investment Co. Inc. holds the remainder. 

CEO François Poirier said the transaction marked “progress toward achieving our 2024 strategic priority of enhancing our balance sheet strength by delivering” about $2.29 billion in asset divestitures. 

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