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AltaGas announces the acquisition of 50% interest in Black Swan Aitken Creek gas processing plants and processing, transportation and marketing agreements
AltaGas announces the acquisition of 50% interest in Black Swan Aitken Creek gas processin...
About this update from Altagas Ltd.
[{"type":"text","content":"\n\n\n\nAltaGas announces the acquisition of 50% interest in Black Swan Aitken Creek gas processing plants and processing, transportation and marketing agreements\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Sept. 26, 2018\n\n\n\nAltaGas continues to execute Northeast B.C. Gas strategy in liquids rich Montney region, strengthening its positioning and value proposition within the region and connecting producers with additional options for energy exports\n CALGARY, Sept. 26, 2018 /CNW/ - AltaGas Ltd. (\"AltaGas\") (TSX: ALA) announced today that it has entered into a definitive agreement with Black Swan Energy Ltd. (\"Black Swan\") to acquire 50% ownership in certain existing and future natural gas processing plants of Black Swan (the \"Aitken Creek Processing Facilities\"). Upon the completion of the acquisition, AltaGas and Black Swan will enter into long term processing, transportation and marketing agreements that also include new AltaGas Liquids handling infrastructure. The total capital investment by AltaGas for 50% ownership in the Aitken Creek Processing Facilities and new AltaGas infrastructure is anticipated at approximately $230 million. \nThe 50/50 infrastructure joint-venture, combined with existing and new AltaGas owned and operated liquids handling infrastructure, will further strengthen AltaGas' Northeast B.C. value proposition and energy export strategy that includes gas processing, liquids handling, field fractionation, and propane export via AltaGas' Ridley Island Propane Export Terminal (\"RIPET\").\n\"This joint venture with Black Swan further strengthens our position and capture area in one of the most prolific natural gas basins in North America and showcases our competitive position in gas processing and export,\" said David Cornhill, Chairman and interim co-Chief Executive Officer of AltaGas. \"It expands our liquids handling capabilities in Northeast B.C. and reflects the strong demand we are seeing for our integrated gas strategy and propane export solution. The combined commitm...