FORT ST. JOHN, BRITISH COLUMBIA--(Marketwired - Sept. 14, 2016) -
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AltaGas Ltd. ("AltaGas") (TSX:ALA) today held the grand opening of the Townsend Facility (the "Facility"), an integrated midstream complex located in northeast British Columbia approximately 100 kilometres north of Fort St. John and 20 kilometres southeast of AltaGas' Blair Creek Facility.
"We are committed to continuing to grow our presence in British Columbia by developing assets that will provide producers with value-added services and the opportunity to move natural gas and natural gas liquids to new markets," said David Harris, President and Chief Executive Officer of AltaGas. "We wish to thank the Blueberry River First Nation and the Halfway River First Nation for their support and understanding as we developed and built this project, and look forward to the long-term benefits this Facility will bring to the community."
The Facility includes a 198 million cubic feet per day (Mmcf/d) shallow-cut natural gas processing facility, natural gas gathering and liquids egress lines and a truck terminal. Commercial operation commenced on July 10, 2016. The $430 million project was completed ahead of schedule and under budget.
"British Columbia has a vast supply of natural gas to support value-added production and economic growth," said Minister of Natural Gas Development Rich Coleman. "The Townsend Facility is another promising development for our province, showcasing our capacity to build new infrastructure in the natural gas sector and support clean energy production for domestic and international markets."
Members from the Halfway River First Nation, Blueberry River First Nation, government officials, and representatives from Painted Pony Petroleum Ltd. joined John Lowe, Executive Vice President, and AltaGas staff to officially open the Facility.
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.
This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "continue", "develop", "provide", "anticipate", "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, AltaGas' ability to grow its presence in B.C., to provide producers with value-added services and access to new markets; the impact of the Facility (including bringing long-term benefits to the community and supporting clean energy production for domestic and international markets); the vast supply of natural gas in B.C. and that such supply will support production and economic growth; and business objectives, expected growth, results of operations, 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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