Playing a crucial role in energy infrastructure, companies in underground natural gas storage focus on developing and managing facilities that store natural gas underground, ensuring a reliable and steady supply for various industries, including automotive.
*Disclaimer: List of key companies in no particular order
Latest Company Updates:
May 2023
Enbridge Inc. (Enbridge or the Company)Â announced that it has reached a final agreement with FortisBC Holdings Inc. to purchase its stake in FortisBC Midstream Inc., which owns a 100% interest in Aitken Creek North Gas Storage facility and a 93.8% interest in Aitken Creek Gas Storage facility (together, Aitken Creek Storage) for $400 million, subject to customary closing adjustments.
With 77 billion cubic feet of working gas capacity, Aitken Creek Storage is the largest and only underground natural gas storage facility in British Columbia. It is situated 120 kilometers northeast of Fort St. John.
As the only storage facility with connections to all three of the main long-haul natural gas transportation lines in Western Canada—Enbridge's Westcoast Pipeline and Alliance Pipeline—Aitken Creek Storage is a crucial component of the region's natural gas transmission system.
This investment is in line with Enbridge's mission to supply the reliable, affordable, and sustainable energy that is required both now and, in the future, as natural gas plays an increasingly significant role in the energy transition.
February 2023
With an enterprise value of $1.5 billion, Williams has completed the acquisition of MountainWest Pipelines Holding Company from Southwest Gas Holdings, Inc. (NYSE: SWX). The transaction involved $1.07 billion in cash and $0.43 billion in assumed debt. With a transmission capacity of about 8 Bcf/d, MountainWest is made up of about 2,000 miles of interstate natural gas pipeline systems that are mainly spread throughout Utah, Wyoming, and Colorado. In order to better serve western markets, MountainWest also manages 56 Bcf of total storage capacity, which includes the Clay Basin subterranean storage reservoir.
Top listed global companies in the industry are:
Underground Natural Gas Storage Market Highlights:
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