Calgary, Alberta, Canada
In January 1997, Energy Spectrum acquired a joint venture interest in the Alberta Hub (“Alberta Hub”) natural gas storage and market facility, which is connected to the NOVA system near Edson, Alberta. The storage facility had over 30 billion cubic feet of working gas capacity and very high daily injection/withdrawal capability. The facility provided physical natural gas storage, parking, loaning, exchange, intra-hub transfers and other gas services for producers, marketers, utilities and other end users of natural gas. The Alberta Hub provided buyers and sellers a gas marketplace with more options for storing and trading gas than were previously available. Energy Spectrum’s wholly owned subsidiary, Energy Spectrum Canada, joined Sabine Hub Services, a division of Texaco, and Niton Hub Services Company, a subsidiary of Dominion Energy, in forming the joint venture. Energy Spectrum sold its interest in the Alberta Hub to Unocal Canada, a subsidiary of Chevron Corp (NYSE: CVX) in March 2000.