Encana has reached an agreement with Enbridge to sell its interest in the Cabin gas plant in the Horn River Basin, British Columbia, Canada, for C$220m ($211m).
Enbridge will acquire 52% of Encana’s interest in the first two phases of the natural gas processing plant, which has a total processing capacity of 800 million cubic feet (Mmcf) per day.
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Construction of the first phase of the plant, which will have a capacity of 400Mmcf per day, is 70% complete and is expected to be commissioned in the third quarter of 2012.
The second phase will be commissioned in the third quarter of 2014.
Encana’s midstream, marketing & fundamentals executive vice-president Renee Zemljak said that the firm is also in the process of divesting its Cutbank Ridge midstream assets.
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By GlobalData
