News Releases
ENSTOR grows its natural gas storage business
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May 15, 2003
PORTLAND, Ore. – ENSTOR, a unit of ScottishPower, announced today the acquisition of approximately 17 percent of incremental ownership in the Alberta Hub natural gas storage facility from Chevron Canada Resources, a wholly owned subsidiary of ChevronTexaco Corp. With this acquisition, ENSTOR now owns approximately 57 percent of the facility.
"This acquisition is consistent with our strategy of growing our storage business," said Matt Morrow, ENSTOR's president. "ENSTOR's main focus is to provide its customers with a variety of storage services that facilitate the management of gas price volatility. The current tightness in the natural gas supply and demand balance emphasizes the importance of natural gas storage."
In operation since 1997, the Alberta Hub is a major underground gas storage facility located 80 miles west of Edmonton, Alberta, Canada. It is connected to the largest pipeline in the province, TransCanada Pipelines Limited – Alberta System, which has the capability to access markets in California, the Pacific Northwest, Midwest, Northeast and all of Canada. The storage facility currently serves producers, utilities, natural gas marketing companies and other customers.
ScottishPower’s gas storage business also includes the Katy Storage and Transportation Facility in Katy, Texas. The Katy facility, located 20 miles west of Houston, has a working capacity of 21 Bcf. Katy has been in operation for more than 10 years, has interconnects to 13 pipelines and serves gas storage capacity to a diversified customer base throughout the U.S.
With this acquisition, ENSTOR now owns 44 Bcf of gas storage capacity.
ENSTOR is a division of PacifiCorp Energy Canada Ltd, an affiliate of PPM Energy, Inc. Both companies are competitive energy businesses in the ScottishPower group of companies.
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