CALGARY, ALBERTA--(Marketwire - Aug. 21, 2012) -
AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) (TSX:ALA.R) today announced the successful commissioning of the 50 Mmcf/d Blair Creek facility expansion which will provide processing capacity to producers developing the liquid-rich Montney resource play. The Blair Creek expansion volumes represent approximately a 5 percent increase in total gas processing throughput and will add $8 to $10 million of annual EBITDA.
"We are pleased to announce the commissioning of the expansion and look forward to continuing to work with producers in the liquids-rich Montney area," said David Cornhill, Chairman and CEO of AltaGas. "This project demonstrates that we are executing our growth strategy to add over $500 million in new gas assets and $75 million in annualized EBITDA."
The Montney resource area located in northeast B.C. is one of the largest, low cost, liquid-rich resource plays in the Western Canadian Sedimentary Basin. The expansion is underpinned by long-term contracts with three active producers in the area.
AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities. AltaGas creates value by acquiring, growing and optimizing its energy infrastructure, including a focus on renewable energy sources. For more information visit: www.altagas.ca.
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