AltaGas acquires gas gathering, processing system

AltaGas Services Inc., Calgary, signed a letter of intent to acquire a 90% stake in a natural gas plant and associated gas gathering system near Red Deer, Alta.

July 17, 2001

By the OGJ Online Staff

HOUSTON, July 17 -- AltaGas Services Inc., Calgary, signed a letter of intent to acquire a 90% stake in a natural gas plant and associated gas gathering system near Red Deer, Alta.

The Cygnet-Prevo natural gas plant has capacity of 30 MMcfd. The gathering system is 100 km in length.

Current throughput at the plant is 18 MMcfd.

AltaGas intends to operate the facilities as part of its nearby Bonnie Glen facilities complex. It said total gross processing capability at Bonnie Glen will be 80 MMcfd.

Closing is expected before July 31.