Veresen completes Ruby pipeline interest acquisition
Veresen has closed the acquisition of the 50% convertible preferred interest owned by Global Infrastructure Partners in the Ruby pipeline system for US$1.425 billion.
Ruby is a newly-built, large-scale natural gas transmission system delivering U.S. Rockies natural gas production to markets in the western United States. The 680-mile pipeline has a current capacity of approximately 1.5 billion cubic feet per day, with expansion potential to 2.0 bcf/d through the addition of compression.
Ruby originates at the Opal hub in Wyoming and extends to the Malin hub in Oregon. The Malin hub is the main interconnect to the proposed Pacific Connector Gas Pipeline (50% owned by Veresen), which would supply Veresen’s proposed Jordan Cove LNG terminal.
“Ruby is an excellent addition to our portfolio of assets and Ruby’s synergy to our proposed Jordan Cove LNG terminal offers tremendous upside potential,” said Don Althoff, Veresen‘s President and Chief Executive Officer.
Press Release; Image: Veresen