Union Gas Limited has acquired a one billion cubic feet natural gas storage pool, located near Sarnia, Ontario, from Midway Petroleum Company.
Union Gas will develop the storage pool, which is expected to be in service in 2009.
Steve Baker, vice president of business development at Union Gas, said: This acquisition is part of our overall plan to expand our natural gas storage assets to respond to growing customer demands for natural gas storage and balancing services.
Our ability to support the additional investment in natural gas storage assets is a direct result of the storage forbearance decision issued by the Ontario Energy Board, last November.