ArcLightCapital Partners LLC on April 4 said its affiliate Amphora CanadaGas Storage ULC has completed its acquisition of Chevron Alberta Gas StorageULC, which has a 43% non-operated interest in the Alberta Hub gas storagefacility, from Chevron CanadaProperties Ltd.
The Alberta Hub storage facility, a 42.7-Bcfdepleted-reservoir natural gas storage facility near Edmonton, Alberta,provides access to local Alberta markets and the AECO Hub through 's system. The AECO Hub then connects to U.S. markets in the West Coast, Midwestand Northeast.
"The [facility] is well-positioned to benefitfrom the increasing storage spreads driven by broadly rising demand for naturalgas in North America and LNG export," said Dan Revers, managing partnerand co-founder of ArcLight.
Iberdrola CanadaEnergy Services Ltd. operates the facility.
It also owns theremaining interest in the facility.