ConocoPhillips plans to sell its interest in two U.S. pipeline companies for $2 billion as part of its strategy to shed assets it no longer considers strategic.

The U.S. oil company said on Wednesday it will sell its 16.55 percent interest in Colonial Pipeline Co and Colonial Ventures LLC to a subsidiary of Caisse de Depot et Placement du Quebec.

In addition Conoco will sell its stake in the Seaway Crude Pipeline Co to a unit of Enbridge Inc .

The Colonial deal is expected to close in the first quarter and the Seaway transaction is expected to close in December, Conoco said.

(Reporting by Anna Driver in Houston, editing by Gerald E. McCormick)

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