The Globe and Mail reports in its Tuesday edition that TC Energy and a partner are selling the Portland Natural Gas Transmission System for $1.14-billion to BlackRock through a fund managed by its diversified infrastructure business and investment funds managed by Morgan Stanley Infrastructure Partners (all figures U.S.). A Canadian Press dispatch to The Globe says that the purchase price includes the assumption of $250-million in debt. The company has said it wants to sell at least $3-billion in assets. The sale of Portland, a non-core asset, is a "unique opportunity to support our capital rotation and deleveraging priorities while continuing to meet the needs of the communities PNGTS serves," the company said Monday. TC Energy owns a 61.7-per-cent share of PNGTS, while its partner, a subsidiary of Énergir LP, owns 38.3 per cent. The company said the sale will generate pretax cash proceeds of about $740-million or $545-million net to TC Energy. PNGTS is a 475-kilometre natural gas pipeline system that serves the upper New England and Atlantic Canada markets. It receives natural gas from the Trans Quebec and Maritimes Pipeline via the Canadian Mainline. TC Energy closed Monday at $54, up eight cents in Toronto.