Suncor Energy Inc. is continuing to pare down assets that don't fit with its core oil sands business, announcing the sale of natural gas assets in Trinidad and Tobago for $386-million.
The company said in a statement Thursday that the sale to Centrica PLC, which is expected to close by the end of the first quarter, is subject to Trinidad and Tobago government and regulatory approvals.
Suncor, which merged with former Crown corporation Petro-Canada in August, aims to trim between $2-billion and $4-billion in non-core properties from its oil sands-focused portfolio.
So far, Suncor has shed about $907-million in assets, including the January sale of its Colorado natural gas properties to Houston-based Noble Energy Inc. for $494-million (U.S.).
Suncor has also agreed to sell 98 gas stations in Ontario to Husky Energy Inc.
Some smaller holdings in the North Sea are still on the block.