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10/31/2019

PPM Expands its Natural Gas Storage Business

PPM Expands its Natural Gas Storage Business

PORTLAND, Ore. — PacifiCorp Power Marketing, Inc. (PPM) today announced an expansion of its natural gas storage business. ENSTOR, a division of PacifiCorp Energy Canada, Ltd., recently purchased Dominion Canada's 40 percent interest in the Alberta Hub natural gas storage facility in Alberta, Canada.

"ENSTOR is now offering storage services at the facility, an excellent platform for our gas storage business in the Western half of North America," said Terry Hudgens, PPM's CEO. "Market conditions in the gas business present an opportunity for growth for PPM and hub services provide flexibility for customers."

The Alberta hub is a major underground gas storage facility located 80 miles west of Edmonton, Alberta. It is connected to the largest pipeline in the province, which is operated by TransCanada Pipelines Limited. The storage facility currently serves about 20 customers -- including producers, utilities, natural gas marketing companies and end users -- in Western Canada and the Western U.S. The Alberta Hub Joint Venture is owned by PacifiCorp Energy Canada, Ltd., Texaco Canada Petroleum Inc., and Unocal Canada Alberta Hub Limited.

Traditionally, the primary role of gas storage has been to smooth natural gas production between peak and off-peak seasons by providing storage in the summer when demand and prices are low and returning the gas to market in the winter when demand and prices are high.

About Avangrid

About Avangrid: Avangrid, Inc. (NYSE: AGR) aspires to be the leading sustainable energy company in the United States. Headquartered in Orange, CT with approximately $44 billion in assets and operations in 24 U.S. states, Avangrid has two primary lines of business: networks and renewables. Through its networks business, Avangrid owns and operates eight electric and natural gas utilities, serving more than 3.3 million customers in New York and New England. Through its renewables business, Avangrid owns and operates a portfolio of renewable energy generation facilities across the United States. Avangrid employs approximately 8,000 people and has been recognized by JUST Capital in 2021, 2022, 2023 and 2024 as one of the JUST 100 companies – a ranking of America’s best corporate citizens. In 2024, Avangrid ranked first among utilities and 12 overall. The company supports the U.N.’s Sustainable Development Goals and was named among the World’s Most Ethical Companies in 2024 for the sixth consecutive year by the Ethisphere Institute. Avangrid is a member of the group of companies controlled by Iberdrola, S.A. For more information, visit www.avangrid.com.

 

About Iberdrola: Iberdrola is one of the world's biggest energy companies and a leader in renewables, spearheading the energy transition to a low carbon economy. The group supplies energy to almost 100 million people in dozens of countries. With a focus on renewable energy, smart networks and smart solutions for customers, Iberdrola’s main markets include Europe (Spain, the United Kingdom, Portugal, France, Germany, Italy and Greece), the United States, Brazil, Mexico and Australia. The company is also present in growth markets such as Japan, Taiwan, Ireland, Sweden and Poland, among others.

With a workforce of nearly 40,000 and assets in excess of €141.7 billion, across the world, Iberdrola helps to support 400,000 jobs across its supply chain, with annual procurement of €12.2 billion. A benchmark in the fight against climate change, Iberdrola has invested more than €130 billion over the past two decades to help build a sustainable energy model, based on sound environmental, social and governance (ESG) principles.

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