ATCO acquires Alberta Hub gas storage facility from ArcLight and Iberdrola Canada

On December 2, 2021, ATCO Energy Solutions Ltd. (ATCO) acquired a 100 percent equity interest of the Alberta Hub natural-gas storage facility owners, Amphora Canada Gas Storage ULC, an affiliate of ArcLight Capital Partners and Iberdrola Canada Energy Services, a subsidiary of Scottish Power.

ATCO will now own and operate the Alberta Hub facility, located near Edson, Alberta. This transaction complements ATCO's existing natural-gas storage capabilities at its facility near Carbon, Alberta. The Alberta Hub facility has a capacity of approximately 43-billion cubic feet and, like ATCO's carbon facility, is connected to the NOVA Gas Transmission (NGTL) system.

Bennett Jones LLP represented ATCO with a team led by Ashley White and including Anu Nijhawan and Taylor Page (Tax), Mark Powell (Derivatives), Duncan McPherson (Energy), Beth Riley (Competition), Deirdre Sheehan (Regulatory), Zach Johnson, Kathryn Shaw, and Sydney Olsen (Corporate/M&A).

Blake, Cassels & Graydon LLP was Canadian counsel for ArcLight with a team led by Mungo Hardwicke-Brown and including Kevin Kerr and Chi Iliya-Ndule (Corporate/M&A); Carrie Aiken, Ahmed Elsaghir and Derrick Osborne (Tax); Andrew Kolody (Financial Services); and Fraser Malcolm, Garth Murray and Julie Soloway (Competition).

Orrick Herrington & Sutcliffe LLP was US counsel for ArcLight.