TC Energy Corp. and its partner have signed a deal to sell the Portland Natural Gas Transmission System for US$1.14 billion including the assumption of US$250 million in debt. The buyer is BlackRock, through a fund managed by its diversified infrastructure business, and investment funds managed by Morgan Stanley Infrastructure Partners. TC Energy holds a 61.7 per cent stake in PNGTS, while a subsidiary of Energir LP owns 38.3 per cent. PNGTS is a 475-kilometre natural gas pipeline system that serves the upper New England and Atlantic Canada markets.