AltaGas to acquire BP Canada's Edmonton ethane extraction plant

AltaGas Services Inc., Calgary, agreed to buy BP Canada Energy Resources Co.'s 48.66% interest in the Edmonton ethane extraction plant (EEEP) for $46 million (Can.).

March 23, 2004

BY OGJ editors
HOUSTON, Mar. 23 -- AltaGas Services Inc., Calgary, agreed to buy BP Canada Energy Resources Co.'s 48.66% interest in the Edmonton ethane extraction plant (EEEP) for $46 million (Can.).

The plant has a licensed inlet capacity of 390 MMcfd of natural gas and gross natural gas liquids production of 15,000 b/d of specification ethane and 6,000 b/d of propane-plus product. EEEP straddles the ATCO Pipelines Ltd. system, which transports natural gas into Edmonton and the Ft. Saskatchewan area.

The acquisition is expected to close in the second quarter, subject to license transfer,
customary closing conditions, and regulatory approvals.