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Investors drop out of Colorado pipeline project

Investors drop out of Colorado pipeline project

The credit crunch has prompted some investors to withdraw from construction of a natural gas pipeline in northwestern Colorado.
Enterprise Products Partners LP and Quicksilver Gas Services LP have terminated plans for a 50 percent stake in the TransCanada's $2 billion Pathfinder pipeline project. The 673-mile (1,083-kilometer) pipeline would run from Colorado to North Dakota where it will link to a major system in the Midwest.
TransCanada Corp., based in Calgary, Alberta, says it's working with prospective shippers to carry out the project.
Enterprise spokesman Rick Rainey told The Denver Post Monday that considering current credit markets, the company is pursuing projects with better returns.
A shortage of pipeline capacity in the Rockies is one of the reasons companies are scaling back drilling in the region.


Updated : 2021-06-12 20:03 GMT+08:00