CPPIB-backed Wolf Midstream greenlights $500-million expansion of Alberta pipeline system

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeEnergyCPPIB-backed Wolf Midstream greenlights $500-million expansion of Alberta pipeline systemWolf’s consistent expansions illustrate just how critical Alberta’s natural gas liquids infrastructure is to attracting capitalLast updated 17 minutes ago The latest expansion adds roughly 600 million cubic feet per day of processing capacity system wide, bringing the total to just over two billion. Photo by Maksim Safaniuk/Getty ImagesCalgary-based Wolf Midstream announced a $500-million expansion of its natural gas liquids pipeline system which transports petrochemicals like propane and ethane to bigger distribution hubs.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe company, backed by the Canada Pension Plan Investment Board, said Tuesday it reached a final investment decision on the project’s third phase, which adds to a second expansion announced in July 2024.The company’s NGL North System, commissioned in 2023, recovers, separates and transports natural gas liquids like ethane, propane, butane and condensate from natural gas produced in Alberta.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againWhile they’re produced from gas, these heavier molecules condense into a liquid state at normal surface temperatures.“Phase three continues the disciplined expansion of our growing NGL system, moving the platform towards its ultimate design capacity,” said Bob Lock, Wolf’s chief executive officer, in a press release.The project will ultimately have the capacity for roughly three billion cubic feet per day of natural gas processing and 170,000 barrels per day of natural gas liquids production.The latest expansion adds roughly 600 million cubic feet per day of processing capacity system wide, bringing the total to just over two billion.The CPP’s investment arm, Wolf ’s financial backer since 2016, signalled continued support. Bill Rogers, the pension manager’s head of sustainable energies, said Wolf has grown into a leading, integrated energy infrastructure business in Alberta.“This expansion is another meaningful step in that evolution, positioning Wolf to support growing customer demand and continued critical infrastructure development in the province,” Rogers said in a press release. “We continue to support Wolf’s growth and its ability to create long-term value for the CPP Fund.”Most of the new production from the latest expansion is already spoken for. The vast majority of phase three’s output is locked in under long-term, fixed-fee contracts with customers.Wolf’s consistent rollout of expansions, each within three years, illustrates just how critical Alberta’s natural gas liquids infrastructure is to attracting institutional capital.The Canada Pension Plan Investment Board, which manages close to $900 billion in assets, views Wolf Midstream as a long-term investment for that exposure.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.