Canadian Manufacturing

AltaGas closes $1.14B acquisition of natural gas utilities in Michigan, Alaska

Energy firm expects to add approximately $1.8-billion in new and expanded assets in 2012



CALGARY—AltaGas Ltd. has completed a $1.14-billion acquisition of utilities provider SEMCO Holding Corporation.

According to AltaGas, SEMCO owns a regulated natural gas distribution utility in Alaska known as ENSTAR Natural Gas Company and an interest in a regulated natural gas storage utility in Alaska called Cook Inlet Natural Gas Storage Alaska, LLC.

SEMCO also owns a regulated natural gas distribution utility and an interest in a natural gas storage facility in Michigan.

In addition to the acquisition of SEMCO, AltaGas recently completed a 50 Mmcf/d expansion of the Blair Creek facility serving producers in the Montney, B.C., area, north of Fort St. John.

Including SEMCO, AltaGas expects to add approximately $1.8-billion in new and expanded assets in 2012.

AltaGas is also growing its power portfolio in 2012.

The acquisition of biomass generation in the U.S., the second co-generation plant at the Harmattan gas facility and AltaGas’ first wind farm south of the border is expected to be commissioned in early October 2012.

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