CALGARY, ALBERTA–(Marketwired – Sept. 29, 2016) –
AltaGas Ltd. (“AltaGas”) (TSX:ALA) announced today that it has received the permit from the B.C. Oil and Gas Commission (“BCOGC”) to construct, own and operate AltaGas’ proposed North Pine Liquids Separation Facility (the “North Pine Facility”).
To be located approximately 40 km northwest of Fort St. John, British Columbia, it is expected that the North Pine Facility will be connected to existing AltaGas infrastructure in the region, including the proposed Ridley Island Propane Export Terminal, and will serve producers in the Montney region.
“Receiving regulatory approval for our North Pine Facility is a major milestone for our northeast B.C. strategy and the overall energy value chain we can offer producers,” said David Harris, President and CEO of AltaGas. “With the North Pine Facility under development we can offer producers in the Montney a new alternative for their products including the ability to reach new markets such as Asia through our proposed Ridley Island Propane Export Terminal. We will continue to engage with key stakeholders and First Nations as we bring our northeast B.C. strategy to fruition.”
The North Pine Facility will have the capacity to process up to 20,000 bbls/d of C3+ and handle up to 20,000 bbls/d of C5+. In conjunction with the North Pine Facility, AltaGas continues to develop two liquids supply lines connecting the Alaska Highway truck terminal to the North Pine Facility. AltaGas submitted an application to the BCOGC at the end of August for permitting of the liquids supply lines and expects to receive regulatory approval in the fourth quarter of 2016. The North Pine Facility and the two liquids supply lines are expected to cost approximately $190 to $210 million. AltaGas expects to reach a Final Investment Decision on the North Pine Facility in the fourth quarter of 2016.
AltaGas is an energy infrastructure company 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 clean energy sources. For more information visit: www.altagas.ca