Deals - Acquisition, Mergers, Divestitures
Enbridge Completes Horn River Midstream Acquisitio
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Enbridge Inc. announced today the closing of its acquisition of a 71.0% interest in Phases 1 and 2 of the Cabin Gas Plant Development which together will be capable of processing 800 million cubic feet per day (Mmcf/d) of natural gas. Upon completion of Phases 1 and 2, Enbridge's total investment is expected to be approximately $1.1 billion.
The Cabin Gas Plant Development is a natural gas processing facility located approximately 60 kilometers northeast of Fort Nelson, B.C. in the Horn River Basin. Phase 1 of the development will have 400 Mmcf/d of natural gas processing capacity.
The plant is currently under construction and is expected to be in-service in the third quarter 2012. Phase 2 will add an additional 400 Mmcf/d of capacity and has been sanctioned by producers and received…
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