trending Market Intelligence /marketintelligence/en/news-insights/trending/d3-mXdjuchnySnsVPM4r0g2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Husky Energy closes C$1.7B deal to drop down midstream assets into new partnership

Blog

Essential Energy Insights - March 2021

Blog

What is the Impact of the EU Sustainable Finance Disclosure Regulation (SFDR)?

PODCAST

Episode 8: What the SolarWinds compromise means for information security

Blog

Infographic Q4 20 US Power Forecast


Husky Energy closes C$1.7B deal to drop down midstream assets into new partnership

Husky EnergyInc. has closed a C$1.7 billion transaction to drop down selectmidstream assets in the Lloydminster region of Alberta and Saskatchewan into anew limited partnership.

The Calgary, Alberta-based Husky Midstream LP will assumeownership of assets that include about 1,900 kilometers of pipeline, 4.1million barrels of oil storage capacity and other ancillary assets. Husky Energy retains a 35% interestin the partnership and will remain as operator of the assets.

The partnership will facilitate the expansion of HuskyEnergy's heavy oil thermal business, given that financing for investment in newinfrastructure to expand takeaway capacity for at least eight new Lloyd thermalprojects has been secured, according to a July 18 news release. This will alsoallow the partnership opportunity to expand its third-party transportationbusiness.

Cheung Kong Infrastructure Holdings Ltd. has a 16.25% interestin the partnership while Power Assets Holdings Ltd. owns 48.75% interest.