SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 16SUBSEQUENT EVENTS Management of the Partnership has reviewed subsequent events through November 6, 2015, the date the financial statements were issued, and concluded there were no events or transactions during this period that would require recognition or disclosure in the consolidated financial statements other than what is disclosed here and/or those already disclosed in the preceding notes. On October 22, 2015, the board of directors of our General Partner declared the Partnership’s third quarter 2015 cash distribution in the amount of $0.89 per common unit payable on November 13, 2015 to unitholders of record as of November 3, 2015. Northern Border declared its third quarter 2015 distribution of $45 million on October 23, 2015, of which the Partnership will receive its 50 percent share or $23 million on November 2, 2015. Great Lakes declared its third quarter 2015 distribution of $7 million on October 23, 2015, of which the Partnership will receive its 46.45 percent share or $3 million on November 2, 2015. On October 9, 2015 Northern Border closed on the renewal and extension of its $200 million revolving credit facility that was to expire in 2016 for an additional five years, maturing October 9, 2020. On November 5, 2015, we entered into an agreement with TransCanada to acquire a 49.9 percent interest in the Portland Natural Gas Transmission System (PNGTS) for $223 million including approximately $35 million in proportionate PNGTS debt (PNGTS Acquisition). PNGTS is a high-capacity, high-pressure interstate natural gas pipeline which began serving New England’s energy needs in March, 1999. The pipeline connects with the TransQuebec and Maritimes Pipeline at the Canadian border and shares facilities with the Maritimes and Northeast Pipeline from Westbrook, Maine to a connection with the Tennessee Gas Pipeline System near Boston, MA. The purchase agreement provides for additional payments to TransCanada ranging from $5 million up to a total of $50 million if pipeline capacity is expanded to various thresholds during the fifteen year period following the date of closing. The transaction is expected to close at the end of 2015. The Partnership plans to finance the acquisition with a combination of debt and equity. The transaction was approved by the Board of Directors of the general partner, following approval and recommendation from the Board’s conflicts committee, which is comprised entirely of independent directors.

NOTE 16SUBSEQUENT EVENTS

Management of the Partnership has reviewed subsequent events through November 6, 2015, the date the financial statements were issued, and concluded there were no events or transactions during this period that would require recognition or disclosure in the consolidated financial statements other than what is disclosed here and/or those already disclosed in the preceding notes.

On October 22, 2015, the board of directors of our General Partner declared the Partnership’s third quarter 2015 cash distribution in the amount of $0.89 per common unit payable on November 13, 2015 to unitholders of record as of November 3, 2015.

Northern Border declared its third quarter 2015 distribution of $45 million on October 23, 2015, of which the Partnership will receive its 50 percent share or $23 million on November 2, 2015.

Great Lakes declared its third quarter 2015 distribution of $7 million on October 23, 2015, of which the Partnership will receive its 46.45 percent share or $3 million on November 2, 2015.

On October 9, 2015 Northern Border closed on the renewal and extension of its $200 million revolving credit facility that was to expire in 2016 for an additional five years, maturing October 9, 2020.

On November 5, 2015, we entered into an agreement with TransCanada to acquire a 49.9 percent interest in the Portland Natural Gas Transmission System (PNGTS) for $223 million including approximately $35 million in proportionate PNGTS debt (PNGTS Acquisition). PNGTS is a high-capacity, high-pressure interstate natural gas pipeline which began serving New England’s energy needs in March, 1999. The pipeline connects with the TransQuebec and Maritimes Pipeline at the Canadian border and shares facilities with the Maritimes and Northeast Pipeline from Westbrook, Maine to a connection with the Tennessee Gas Pipeline System near Boston, MA. The purchase agreement provides for additional payments to TransCanada ranging from $5 million up to a total of $50 million if pipeline capacity is expanded to various thresholds during the fifteen year period following the date of closing. The transaction is expected to close at the end of 2015. The Partnership plans to finance the acquisition with a combination of debt and equity.

The transaction was approved by the Board of Directors of the general partner, following approval and recommendation from the Board’s conflicts committee, which is comprised entirely of independent directors.