Enbridge Buys Underground Natural Gas Storage Facility from Fortis for $400 Million
05.08.2023 By TankTerminals.com News - NEWS

May 8, 2023 [CTV News] – Enbridge Inc. has signed a deal to buy a large underground natural gas storage facility in B.C. for $400 million.


Under the agreement with FortisBC Holdings Inc., Enbridge will acquire the company’s interest in FortisBC Midstream Inc., which holds a 93.8 per cent interest in the Aitken Creek Gas Storage facility and a 100 per cent interest in the Aitken Creek North Gas Storage facility.

The underground reservoir is 120 kilometres northeast of Fort St. John, B.C., in the Montney production region.

Enbridge says it has 77-billion cubic feet of working gas capacity.

The company says Aitken Creek Storage connects to all three major long-haul natural gas transportation lines in Western Canada, including Enbridge’s Westcoast and Alliance pipelines.

The deal is expected to close later this year, subject to receipt of customary regulatory approvals and closing conditions.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

The Petromidia Refinery is Looking for a Partner for the Construction of a Green Hydrogen Plant
05.24.2024 - NEWS
May 24, 2024 [Energy World]- Rompetrol Rafinare Constan╚Ťa, the company part of the KMG Internati... Read More
Saudi Aramco Interested in Buying Minority Stake in Repsol's Renewable Unit, Expansion Reports
05.24.2024 - NEWS
May 24, 2024 [Reuters]- State-controlled oil company Saudi Aramco is interested in buying a minor... Read More
Verbio Starts Expansion Work on Second Biorefinery in North America
05.24.2024 - NEWS
May 24, 2024 [Biofuels International]- Verbio has started work on converting its South Bend etha... Read More
TNPA, Mnambithi Terminals to Develop Durban Liquid Bulk Facility
05.24.2024 - NEWS
May 24, 2024 [World Cargo News]- Transnet National Ports Authority (TNPA) has signed a Terminal O... Read More