The signed agreement is for two plants in northeastern British Colombia, situated 35km southwest of Dawson Creek. They neighbour Enbridge’s Sexsmith gathering system and 50%-owned Alliance pipeline. The assets are capable of producing 9.06 mcm (320 mcf) per day.
The transaction is expected to close in Q2 and is subject to regulatory review and approval.
“These assets, which are currently in operation, are underpinned by long-term contracts that generate highly predictable cashflows. They also enhance our natural gas footprint within the Montney,” said Gregory Harper, president of gas pipelines and processing for Enbridge.
The Montney formation is a major shale resource that stretches 130,000 sq.km and contains 12.7 tcm (449 tcf) of natural gas and 1.13 billion barrels of oil, according to a province-funded appraisal in 2013.
For my hydrocarbons features and news on Canada, click here.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.