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GAZ METROPOLITAN TO BUY NOVA'S 50 PERCENT SHARE OF TQM PIPELINE

 CALGARY, Alberta, Nov. 8 /PRNewswire/ -- NOVA Corp. of Alberta has agreed to sell its 50 percent partnership interest in the Trans Quebec & Maritime's (TQM) natural gas pipeline to Gaz Metropolitain of Montreal, for cash proceeds of approximately $52 million.
 The sale will be effective Jan. 1, 1994. NOVA is selling its interest because the TQM system does not fit with NOVA's current strategic direction. The transaction to sell TQM will have no impact on NOVA's earnings.
 TQM Pipeline owns and operates a 342-kilometer natural gas pipeline system in the province of Quebec. TQM was founded in 1980 and is co- owned by NOVA Corp. and TransCanada PipeLines Ltd.
 -0- 11/8/93
 /CONTACT: W.N. (Bill) Rowe, director of investor relations, 403-290-7807, or P.J. (Jeff) Flood, public affairs, 403-290-7657/
 (NVA.)


CO: NOVA Corp. of Alberta; Gaz Metropolitain of Montreal ST: Alberta IN: OIL SU: TNM

JL-MF -- LA015 -- 1612 11/08/93 09:05 EST
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Publication:PR Newswire
Date:Nov 8, 1993
Words:155
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