Enbridge Buys Encana’s stake in the Massvie Horn River Cabin Gas Plant

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Read this report from trade publication Alberta Oil on Enbridge’s purchase of a majority stake in the Cabin Gas Plant, northeast of Fort Nelson – indicating the company’s interest in BC shale gas.

“Lots of horse trading going on in northeastern British Columbia this
week. Calgary-based Enbridge Inc. announced today that it has reached an agreement
with Encana Corp. to acquire majority ownership in a gas plant 60
kilometers northeast of Fort Nelson in B.C.’s remote Horn River basin.
Enbridge will acquire a 57 per cent share in the project’s first two
phases, which together could process 800 million cubic feet of natural
gas per day.

The deal fits with a desire by Encana to offload anywhere from $1- to
$2-billion in non-core assets this year. For Enbridge, the acquisition
comes one day after company chief executive Pat Daniel told Reuters that
his firm is interested in taking part in one of several proposals on the books to ship liquefied natural gas from the coast to markets in the Pacific Rim.” (Oct. 7, 2011)

http://www.albertaoilmagazine.com/2011/10/another-suitor-emerges-for-kitimat-lng/

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