PIPELINES / Westcoast and AEC Sign Deal
AUGUST 6, 1998
Westcoast Energy Signs Major Natural Gas Processing MOU
with AEC
CALGARY, ALBERTA--Westcoast Energy Field Services Division
(Westcoast) announced today it has completed a Memorandum of
Understanding (MOU) with Alberta Energy Company (AEC) for four
years of firm service gas processing at Westcoast's Fort Nelson,
British Columbia facility.ÿ AEC will deliver the natural gas from
its Maxhamish field in northeast British Columbia.ÿ Westcoast will
begin processing and transportation services in April 1999. The
AEC facilities have a design capacity of 70 million cubic feet of
gas per day.ÿ Under the MOU, AEC will supply up to 300 billion
cubic feet of gas in the next 15 year period.
"The MOU is a clear demonstration of Westcoast's competitiveness
in regards to gas processing and transportation in northeast
British Columbia and our ability to assist producers in maximizing
the potential of this important new area of the Western Canada
Sedimentary Basin," said Irv Koop, President, Westcoast Pipeline
and Field Services.ÿ "Westcoast is committed to enhancing the
performance of its processing facilities and to take a leadership
role in this area of energy services."ÿ The area where Maxhamish
is located, approximately 150 kilometres from Fort Nelson is
estimated to contain natural gas reserves of approximately one
trillion cubic feet.ÿ
Westcoast's Fort Nelson facility has a rated capacity of 700
million cubic feet per day.ÿ
Westcoast Energy's Pipeline Division is a wholly-owned subsidiary
of Westcoast Energy Inc.ÿ Westcoast Energy Inc. (TSE: W; NYSE: WE)
headquartered in Vancouver, British Columbia, is a leading North
American energy company with assets of $10 billion.ÿ The Company's
interests include an integrated natural gas gathering, processing
and transmission system, natural gas storage facilities and gas
distribution, power generation, and international energy
businesses as well as financial, information and energy services
businesses.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Westcoast Energy Inc.
Bill Harlan
Vice President, Customer Service & Marketing
(403) 297-1760
Website: www.westcoastenergy.com
or
Westcoast Energy Inc.
Tom Merinsky
Investor Relations
(604) 488-8021
or
Westcoast Energy Inc.
Paul Clark
Corporate Communications
(604) 488-8093
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