Energy infrastructure business AltaGas Ltd. (ALA.TO: Quote, ALA-PA.TO, ALA-R.TO) said Tuesday that it has entered into an agreement with Quatro Resources Inc. to acquire Quatro's Midstream Assets for about $20 million.
This acquisition, which includes Quatro's 87 percent interest in the 75 Mmcf/d Gilby Gas Plant, is expected to close in third quarter 2012.
The company also noted that it will construct a 70-kilometre pipeline to connect the Gilby Gas Plant and AltaGas' 30 Mmcf/d Sylvan Lake Gas Plant to AltaGas' deep-cut, turbo expander facility at the Joffre Ethane Extraction Plant. This project is expected to cost about $100 million and to be completed by late 2013.
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by RTT Staff Writer
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