South Peace Historical Society

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  • Table of Contents

    • Part 1: First Nations of the Peace River Region
    • Part 2: The Fur Trade Era
    • Part 3: Transportation and Communication
    • Part 4: Old Timers and the Price of Land
    • Part 5: Dawson Creek: The Story of the Community
    • Part 6: Mysteries, Adventures and Indian Legends
    • Part 7: Arts, Crafts and Recreation
    • Part 8: Agriculture
    • Part 9: Church Histories
    • Part 10: Schools
    • Part 11: Health Care
    • Part 12: Industries and Enterprises
    • Part 13: Policing the Peace
    • Part 14: Pouce Coupe, Rolla, and Other South Peace Communities
    • Part 15: Chetwynd and the Fort St. John Area
    • Part 16: The Alberta Peace
    • Part 17: Natural History of the Peace River Region
    • Part 18: Interviews with Old Timers
    • Part 19: Remembering Our Veterans

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BN12-04: Westcoast Increases Stake in Alliance Pipeline

Recent History – 1998

By Daily News Staff, Dec. 18, 1998

Westcoast Energy Inc. has increased its stake in the Alliance Pipeline Project to about 23.6 per cent, the company said in a press release Thursday.

Westcoast signed a letter of agreement to purchase an additional 9.1 per cent interest in the project from Unocal Corporation. Westcoast’s total equity commitment in the Alliance project now approximates $500 million.

The Alliance Pipeline Project is a 3,100 kilometre pipeline that will move some 1.325 billion cubic feet per day of natural gas from northeastern B.C. and northern Alberta to the Chicago area market for distribution throughout North America. The pipeline is scheduled to be in service in the second half of the year 2000.

Westcoast entered the project in September 1997 by taking an 11 per cent equity interest in the project. It increased its equity participation to 14.5 per cent in January 1998 by purchasing a portion of an interest of another equity holder.

Westcoast chair and CEO, Michael Phelps, said the Alliance project has received all of the necessary Canadian and U.S. approvals to proceed with construction. Also, he said, it is almost fully subscribed by shippers with 15-year term agreements.

Vancouver-based Westcoast Energy Inc. is a North American energy company with assets of more than $10 billion. Its interests include natural gas gathering, processing and transmission and natural gas storage facilities.

 

This article is taken from the Peace River Block Daily News, Dawson Creek, with the permission of the publisher. The Daily News retains all rights relating to this material. The information in this article is intended solely for research or general interest purposes.

« Quintette Hiring to Make Up Shortfall

BN12-05: L-P Remains Committed to Dawson Creek Plant »

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