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Enbridge to acquire additional stake in Canadian gas plant
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3 November 2011
Enbridge has made an agreement with Encana to acquire an additional 13.3% stake in the Cabin Gas plant development in British Columbia, Canada.
With this acquisition, Enbridge will hold a 71% ownership interest in the development.
The plant is under construction and will have a natural gas processing capacity of 400Mmcf per day under the first phase, which is expected to start service in late 2012.
Under the second phase, the plant will add an additional processing capacity of 400Mmcf per day, and is expected start service in the third quarter 2014.
On completion of the first and second phases, Enbridge’s total investment will reach $1.1bn.