CALGARY, July 19, 2001 - KeySpan Energy Canada announces that it has acquired all of Westcoast Capital Corporation’s interests in the Wilson Creek Express Pipeline and the Crystal Pipeline.
These assets complement KeySpan’s existing natural gas gathering and processing infrastructure. Both pipelines gather sour gas from areas to the west and north of the KeySpan-operated Rimbey Gas Plant, and deliver it to the facility for processing. The Wilson Creek Express Pipeline is an 8” diameter sour gas pipeline that extends 43 km west of the Rimbey Gas Plant, with a current capacity of about 50 million cubic feet per day (“mmcf/d”). The Crystal pipeline is a 6” diameter sour gas pipeline that reaches 38 km north of the Rimbey Gas plant, and has a capacity of about 20 mmcf/d. Calpine Canada is the operator of both pipelines.
The Rimbey Gas Plant has 422 mmcf/d of processing capacity, with natural gas liquids extraction and fractionation capabilities, and is operated by KeySpan. The Rimbey Gas Plant was the first sour gas processing plant in Alberta to voluntarily increase its sulphur recovery in accordance with the latest Alberta Energy Utilities Board standards. This upgrade project was completed in 2001 at a cost of $19 million. In addition, the Rimbey Gas Plant offers different transportation alternatives for sales gas and for natural gas liquids. With these capabilities, KeySpan believes that the Rimbey Gas Plant can offer producers the highest netback for natural gas production in the area.
Keyspan Energy Canada, a wholly owned subsidiary of KeySpan Energy Corporation, offers natural gas producers in western Canada a full range of midstream and marketing services, from wellhead to customer. The company's assets include interests in 14 processing plants and associated gathering systems with capacity to process more than 1.5 billion cubic feet of natural gas per day. KeySpan also owns natural gas liquids facilities in Edmonton, a major natural gas liquids hub. For more information about the company, visit KeySpan Energy Canada's Web site at: http://www.keyspancanada.com
KeySpan Energy Corporation, a member of the S&P 500, is the largest distributor of natural gas in the Northeast, with 2.4 million gas customers and more than 13,000 employees. KeySpan is also the largest investor-owned electric generator in New York State with 6,200 Megawatts of generation. KeySpan also has strategic investments in natural-gas exploration and production, pipeline transportation, distribution and storage, as well as international activities in Canada and Northern Ireland. For more information about the company, visit KeySpan's Web site at: http://www.keyspanenergy.com
