History — a snapshot of our key milestones
2015 In April, Veresen announced that Veresen Midstream Limited Partnership (Veresen Midstream) closed the acquisition of certain natural gas gathering and compression assets in the Dawson area. The new entity will support Encana and the Cutbank Ridge Partnership in their Montney development plans and focus on other opportunities to provide producers with flexible and innovative energy infrastructure solutions.
2014 On December 22, Veresen announced the formation of Veresen Midstream, which is owned equally by Veresen and Kohlberg Kravis Roberts & Co. L.P., a global investment firm. Veresen Midstream agreed to acquire certain natural gas gathering and compression assets supporting Montney development in the Dawson area of northeastern British Columbia from Encana and the Cutbank Ridge Partnership (CRP). Veresen Midstream also agreed to undertake up to $5 billion of new midstream expansion for Encana and CRP in the Montney region under a 30-year fee-for-service arrangement.
In September, Veresen announced the acquisition of a 50% convertible preferred interest in the Ruby Pipeline for US$1.425 billion. Ruby is a 680-mile, 42-inch natural gas transmission system delivering U.S. Rockies natural gas production to markets in the western United States.
2012 In March, Veresen started operations of the Grand Valley I and II wind projects in Ontario, our first renewable wind project. In May, the York Energy Centre (YEC) started operations. The YEC is a 400-megawatt gas-fired peaking facility located in the township of King, Ontario.
2011 We completed our conversion to a corporation and changed our name to Veresen. In February, we acquired interests in a portfolio of run-of-river hydroelectric facilities and development projects in British Columbia from ENMAX Corporation. In late 2011, we announced our acquisition of the Hythe/Steeprock gas gathering and processing complex from Encana.
2010 In August, we acquired Swift Power, a company engaged in the development of run-of-river hydroelectric power projects. In November, we acquired Pristine Power, an electricity power developer in British Columbia and Ontario.
2009 Commercial operations commenced at the East Windsor Cogeneration Facility in November.
2008 In December, we started commercial operations at our London Cogeneration Facility.
2007 In August, we acquired district energy systems in London, Ontario and Charlottetown, Prince Edward Island and a gas-fired cogeneration facility in London, Ontario.
2005 We acquired a 20% interest in Pristine Power and entered the power business with an investment in the East Windsor Cogeneration Facility.
2004 In December, we acquired the Alberta Ethane Gathering System (AEGS), building on our existing asset base, providing additional diversity and adding a new source of stable cash flow. The AEGS is a 1,324-kilometre pipeline that transports pure ethane from various Alberta ethane extraction plants to major petrochemical complexes near Joffre and Fort Saskatchewan, Alberta.
2002/2003 We increased our ownership interest in the Alliance Pipeline to 50% and in Aux Sable to 43%.
2000 Commercial operations of the Alliance Pipeline and Aux Sable started on December 1, 2000.
1999 In early 1999, the Alliance Pipeline and Aux Sable Facilities were given the regulatory go-ahead.
1997 Fort Chicago was formed to purchase a 26% interest in the Alliance Pipeline, 3,000-kilometre natural gas pipeline from northeastern British Columbia to a delivery point near Chicago, Illinois, and Aux Sable, a natural gas liquids extraction facility near Chicago.