CHATHAM, ON, Nov. 27 /CNW/ - Union Gas Limited today announced it has
acquired a 1 billion cubic feet (Bcf) natural gas storage pool, located near
Sarnia, Ontario, from Midway Petroleum Company. Union Gas will develop the
storage pool which is expected to be in service in 2009.
"This acquisition is part of our overall plan to expand our natural gas
storage assets to respond to growing customer demands for natural gas storage
and balancing services," said Steve Baker, vice president, business
development. "Our ability to support the additional investment in natural gas
storage assets is a direct result of the storage forbearance decision issued
by the Ontario Energy Board, last November."
Last month, Union Gas also signed an agreement in principle regarding the
acquisition of a 75 per cent interest in a 3 Bcf storage pool currently owned
by Tribute Resources located in Huron County.
Union Gas currently owns and operates the largest underground natural gas
storage facility in Canada, and one of the largest in North America.
About Union Gas
Union Gas is an integrated natural gas storage, transmission and
distribution company serving approximately 1.3 million customers, and is a
Spectra Energy company. Spectra Energy Corp (NYSE: SE) is one of North
America's premier natural gas infrastructure companies serving three key links
in the natural gas value chain: gathering and processing, transmission and
storage and distribution. For close to a century, Spectra Energy and its
predecessor companies have developed critically important pipelines and
related energy infrastructure connecting natural gas supply sources to premium
markets. Based in Houston, Texas, the company operates in the United States
and Canada approximately 17,500 miles of transmission pipeline, 265 billion
cubic feet of storage, natural gas gathering and processing, natural gas
liquids operations and local distribution assets. Spectra Energy Corp also has
a 50 percent ownership in DCP Midstream, one of the largest natural gas
gatherers and processors in the United States. Visit www.spectraenergy.com for
For further information:
For further information: Andrea Stass, Phone: (519) 436-5490, Cell: