Pipeline Operator Enbridge Acquires Gas Storage Facility in British Columbia for $295 Million
(Reuters) — Canadian pipeline operator Enbridge Inc. said on Monday it would acquire Aitken Creek natural gas storage facility in British Columbia (B.C.) from FortisBC Holdings Inc. for C$400 million ($294.68 million).
Aitken Creek Storage is an underground reservoir located in the Montney area, one of Canada's most attractive oil regions.
RELATED: Pipeline Operator Enbridge to Invest $2.9 Billion to Build Ammonia Plant in Texas
The storage facility, which is connected to all three major long-haul natural gas transportation lines in Western Canada including Enbridge's Westcoast Pipeline and Alliance Pipeline, has a working storage capacity of 77 billion cubic feet, the company said.
The transaction is expected to close this year.
The Canadian province of B.C. is witnessing a flurry of LNG projects as the world tries to secure alternatives to Russian gas supply following Moscow's invasion of Ukraine.
($1 = 1.3574 Canadian dollars)
Related News
Related News

- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- DOE Considers Cutting Over $1.2 Billion in Carbon Capture Project Funding
Comments