22:58:00 EDT Tue 14 Jul 2020
Enter Symbol
or Name

Veresen Inc
Symbol VSN
Shares Issued 164,473,357
Close 2011-11-30 C$ 14.56
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Enbridge, Veresen's Alliance starts natural gas hub

2011-11-30 09:49 ET - News Release

See News Release (C-ENB) Enbridge Inc

Mr. Keith Palmer of Alliance reports


As of Dec. 1, 2011, Alliance Pipeline, owned by Enbridge Income Fund and Veresen Inc., will offer a new suite of services that leverages Alliance's interconnections to other pipelines and downstream markets with the creation of a market hub called the Alliance Chicago Exchange.

The ACE hub will offer enhanced title transfers, wheeling, and park and loan services at Alliance's delivery header near Channahon, Ill., to existing Alliance shippers and new customers. ACE hub customers will be able to transfer ownership to third parties, flexibly manage gas volumes between points, and defer and supplement their deliveries at the header. An associated long-haul contract is not required.

"We are excited about our entry into the natural gas hub business, which diversifies our service offerings and provides valuable options for Chicago-area shippers and marketers," said Keith Palmer, Alliance's senior vice-president and chief financial officer. "Our Chicago gas market location ideally positions us to give customers access to greater commercial liquidity and greater delivery flexibility."

The ACE hub was given Federal Energy Regulatory Commission approval on Nov. 29, 2011, and represents an important step forward in Alliance's development of new service offerings. ACE hub services are available through Alliance's customer service group to any qualifying parties wishing to conduct business on the hub.

About the Alliance Pipeline system

The Alliance Pipeline system consists of an approximately 2,311-mile integrated Canadian and United States high-pressure natural gas transmission pipeline system, delivering rich natural gas from the Western Canadian Sedimentary basin and the Williston basin to the Chicago market hub. The United States portion of the system is owned and operated by Alliance Pipeline LP and consists of approximately 900 miles of mainline and related infrastructure. The system has been in commercial service since December, 2000, and delivers, on average, about 1.6 billion standard cubic feet (or 45.3 million standard cubic metres) of natural gas per day.

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