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TransCanada
Corporation
TRP (TransCanada) announced today that
it has entered into an agreement to acquire BP's 40 per cent interest
in the assets of the Crossfield Gas Storage facility. In addition,
TransCanada will acquire BP's interest in CrossAlta Gas Storage &
Services Ltd., an affiliated marketing joint venture between the two
companies.
This $210 million transaction will give TransCanada 100 per cent
ownership in the facility located in Crossfield, Alberta, about 50
kilometres north of the City of Calgary. This acquisition adds an
additional 27 billion cubic feet of natural gas storage capacity to
TransCanada's existing portfolio in Alberta. TransCanada has operated
the Crossfield Gas Storage facility since 2011.
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