ArcLight Capital buys interest in Alberta Hub Gas Storage
Amphora Canada Gas Storage ULC, an affiliate of U.S. private equity firm ArcLight Capital Partners, has bought Chevron Alberta Gas Storage ULC from Chevron Canada Properties Ltd. The deal, the value of which was not disclosed, gives ArcLight a 43 percent interest in Alberta Hub Gas Storage. The remaining interest is held by Iberdrola Canada Energy Services Ltd, which operates the Peers, Alberta-based facility. ArcLight said the facility is positioned to benefit from "the increasing storage spreads driven by broadly rising demand for natural gas in North America and LNG (liquefied natural gas) export."
4 April 2016•2 mins read
