AltaGas Defers Development of Noel Pipeline and Pouce Coupe Expansion
AltaGas is deferring the development of the Noel natural gas pipeline construction project and Pouce Coupe sour gas facility expansion project. The projects announced on April 10, 2007, involving Devon Canada Corporation, were subject to certain economic conditions precedent, and are being deferred for economic reasons.
"The Noel region is an underdeveloped area with substantial reserves potential," said David Cornhill, Chairman, President and Chief Executive Officer. "We believe that the Noel pipeline construction project and Pouce Coupe facility expansion project continue to be attractive projects for transporting and processing natural gas from the Noel region."
AltaGas intends to continue working on the development of the Noel pipeline construction project and Pouce Coupe facility expansion project.
AltaGas Income Trust is one of Canada's largest and fastest growing integrated energy infrastructure and services organizations. The Trust creates value by growing and optimizing assets and services across the energy value chain to serve North America's energy demand. Since 1994, AltaGas Income Trust has expanded its business to include natural gas gathering, processing and transmission, extraction of ethane and natural gas liquids, power generation, marketing of natural gas and natural gas liquids, as well as retail energy services to commercial, industrial and institutional end-users across Canada.