Chevron Canada Properties has sold off one of its Alberta subsidiaries to Amphora Canada Gas Storage for an undisclosed amount.
The facility is a depleted reservoir natural gas storage facility located 80 miles west of Edmonton in Alberta.
It is connected to TransCanada’s NOVA Gas Transmission system which provides access to Alberta markets.
Dan Revers, managing partner and co-founder of Arclight, said:”The acquisition of an interest in Alberta Hub builds upon ArcLight’s successful history of investing in North American natural gas storage infrastructure.
“The Facility is well-positioned to benefit from the increasing storage spreads driven by broadly rising demand for natural gas in North America and LNG export.”
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