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AltaGas cancels the Alton natural gas storage project in Nova Scotia

Alton Gas, a subsidiary of Calgary-based AltaGas, said it would not continue developing the underground natural gas storage project on the Shubenacadie River and would decommission it. Its release cited the 2018 sale of its Nova Scotia utility, the repositioning of its business and the challenging economics of the storage project, and said the project had received mixed support, challenges and delay. The project had been on hold since Mi'kmaw protests began in 2014; in March 2020 the Nova Scotia Supreme Court ruled that the province had to resume consultation with Sipekne'katik First Nation. Nova Scotia's natural resources minister called it a business decision by the company (CBC News, Oct. 22, 2021).

Date
Kind
Investment decision
Where
Nova Scotia
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