ArcLight Capital Partners Closes Acquisition of Interest in Alberta Hub Gas Storage from Chevron Canada Properties Limited
BOSTON (April 4, 2016) – ArcLight Capital Partners, LLC (“ArcLight”) announced today that ArcLight affiliate Amphora Canada Gas Storage ULC (“Amphora”) has completed the purchase of Chevron Alberta Gas Storage ULC (“CAGS”) from Chevron Canada Properties Limited. CAGS owns a 43% non-operated interest in Alberta Hub Gas Storage (the “Facility”). Iberdrola Canada Energy Services Limited (“Iberdrola”) owns the remaining interest and operates the Facility.
The Facility is a 42.7 Bcf depleted-reservoir natural gas storage facility located 80 miles west of Edmonton, Alberta. It is connected to TransCanada’s NOVA Gas Transmission Ltd. (“NGTL”) system, which provides access to local Alberta markets and to AECO Hub, a major North American natural gas trading center with connectivity to the West Coast, Midwest, and Northeast markets in the United States.
“The acquisition of an interest in Alberta Hub builds upon ArcLight’s successful history of investing in North American natural gas storage infrastructure,” said Dan Revers, Managing Partner and co-Founder of ArcLight. “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.”
About ArcLight Capital Partners, LLC
ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, we helped pioneer an asset-based private equity approach to investing in the dynamic North American energy sector. We have invested approximately $15.3 billion in 97 transactions since inception, generating strong realized returns for our limited partners from 56 exits across diverse market cycles. Based in Boston, our 33-person investment team targets midstream, power and production opportunities with substantial growth potential, significant current income and meaningful downside protection, typically on a proprietary basis. We employ a hands-on value creation strategy that utilizes our in-house technical, operational and commercial specialists as well as our 400-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight's portfolio companies, can be found at http://www.arclightcapital.com.