CALGARY, ALBERTA–(Marketwired – Sept. 21, 2017) – Veresen Inc. (“Veresen”) (TSX:VSN) announced that its 100%-owned Alberta Ethane Gathering System (“AEGS”) has entered into 20-year take-or-pay transportation agreements for approximately 95% of the existing capacity on the system effective January 1, 2019. Under the new agreements, tolls have been increased to reflect the value of the service provided to customers while continuing to provide for the recovery of operating costs. AEGS will continue with efforts to contract its remaining capacity effective January 1, 2019 and will consider expanding the capacity of the system should demand warrant in the future.
About Veresen Inc.
Veresen is a publicly-traded dividend paying corporation based in Calgary, Alberta that owns and operates energy infrastructure assets across North America. Veresen is engaged in two principal businesses: a pipeline transportation business comprised of interests in the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System, and a midstream business which includes a partnership interest in Veresen Midstream Limited Partnership which owns assets in western Canada, and an ownership interest in Aux Sable, which owns a world-class natural gas liquids (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure. Veresen is also developing Jordan Cove LNG, a 7.8 million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the associated Pacific Connector Gas Pipeline.
Veresen’s Common Shares, Cumulative Redeemable Preferred Shares, Series A, Cumulative Redeemable Preferred Shares, Series C, and Cumulative Redeemable Preferred Shares, Series E trade on the Toronto Stock Exchange under the symbols “VSN”, “VSN.PR.A”, “VSN.PR.C” and “VSN.PR.E”, respectively. For further information, please visit www.vereseninc.com.
