Enbridge to Acquire LNG Storage
05.03.2023 By TankTerminals.com - NEWS

May 3, 2023 [Tank Storage Mag] – Enbridge has announced that, through a wholly owned subsidiary, it has entered into a definitive agreement with FortisBC Holdings to acquire its interest in FortisBC Midstream, which holds a 93.8% interest in Aitken Creek Gas Storage facility and a 100% interest in Aitken Creek North Gas Storage facility (collectively, Aitken Creek Storage) for $400 million (€362 million).

 

Aitken Creek Storage is an underground reservoir located 120 km northeast of Fort St. John, British Columbia, Canada, and is the largest and only underground natural gas storage facility in British Columbia, totalling 2.2 bcm of working gas capacity.

‘Enbridge is pleased to acquire Aitken Creek Storage, a well-located and connected facility that will enable us to continue to meet regional energy needs as well as support increasing demand for west coast LNG exports,’ says Cynthia Hansen, Enbridge executive vice president and president, gas transmission and midstream. ‘Natural gas plays an increasingly important role in the energy transition, and this investment further aligns with Enbridge’s focus on providing the affordable, sustainable and reliable energy that is needed now and into the future.’

The transaction is expected to close later in 2023, 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

ConocoPhillips Working to Resume APLNG Terminal Ops
12.05.2023 - NEWS
December 5, 2023 [LNG Prime]- A unit of ConocoPhillips is working to resume production at the Aus... Read More
Peru LNG Terminal Sent Four Cargoes in November
12.05.2023 - NEWS
December 5, 2023 [LNG Prime]- Peru LNG’s liquefaction plant at Pampa Melchorita has shipped fou... Read More
India’s Top Clean Energy Firm to Invest $22 Billion to Boost Capacity Fivefold
12.05.2023 - NEWS
December 5, 2023 [Oil Price]- Adani Green Energy, the biggest renewable power producer in India, ... Read More
Oil Prices Little Changed Amid OPEC+ Cut Doubts, Mid-East Tension
12.05.2023 - NEWS
December 5, 2023 [Reuters]- Oil prices were little changed on Tuesday amid uncertainty over volun... Read More