AltaGas refers to the liquid rich Montney resource area as one of the largest, low cost resource plays in the Western Canadian Sedimentary Basin.
The expansion is underpinned by long-term contracts with three active producers in the area.
AltaGas is a holding company focused on the gas distribution business, and also claims the Blair Creek expansion volumes represent approximately a five per cent increase in total gas processing, that will add $8 to 10 million in before tax, annual earnings.
AltaGas Chairman and CEO, David Cornhill says, "We are pleased to announce the commissioning of the expansion, and look forward to continuing to work with producers in the liquids-rich Montney area. This project demonstrates that we are executing our growth strategy to add over $500 million in new gas assets and $75 million in annualized EBITDA."
As of Monday, AltaGas was trading at $31.71 a share.