CALGARY, ALBERTA--(Marketwired - July 14, 2016) -
Editors Note: There is a photo associated with this release.
AltaGas Ltd. ("AltaGas") (TSX:ALA) and Halfway River First Nation (HRFN) signed a Comprehensive Relationship Agreement. The ten-year agreement provides the framework for consultation, financial benefits, community investment, employment opportunities, and support for a wildlife study in HRFN's traditional territory.
"This agreement supports AltaGas' three guiding principles for developing energy infrastructure: respect the land, share the benefits, and nurture long-term relationships," said David Harris, President and Chief Executive Officer of AltaGas. "We look forward to continuing to build a long-term, mutually beneficial relationship with HRFN that recognizes and respects their values and traditions."
"We are pleased to sign this relationship agreement with AltaGas," said Chief Darlene Hunter of Halfway River First Nation. "By working together with AltaGas, we have developed an agreement that will benefit our community for many years to come."
AltaGas is constructing its Townsend Facility approximately 100 kilometres north of Fort St. John in Northeast British Columbia on HRFN territory. When completed, the Facility will include a 198 million cubic feet per day (MMscf/d) shallow-cut natural gas processing facility, a gathering pipeline, sales pipeline, two liquids egress pipelines, and a truck terminal on the Alaska Highway. The Townsend Facility is a key component of AltaGas' Northeast British Columbia energy strategy. The Project has provided members of HRFN with employment opportunities during construction and will continue do so once operational.
"This agreement between AltaGas and the Halfway River First Nation is an important step towards sharing the prosperity that comes with natural gas development," said the Honourable John Rustad, Minister of Aboriginal Relations and Reconciliation, for the Province of British Columbia. "The growth of a sustainable, responsible natural gas sector will bring substantial financial benefits, jobs and new business opportunities to Halfway River and other First Nations communities throughout northern B.C."
AltaGas is an energy infrastructure business 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
This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "target", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, expectations with respect to the propane export terminal including, construction by AltaGas, site location, shipment, connection and transportation capabilities, sources of supply, estimated cost, anticipated timing of final investment decision and commercial operation, expectations of the propane export terminal being the first to export propane from British Columbia's west coast, and the potential for the propane export terminal to provide new markets for natural gas producers, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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