Iberdrola has taken another positive step foward in its decarbonization strategy. The company, through its subsidiary Scottish Power Overseas Limited, has closed the sale of Alberta Hub Gas Storage, owned 57% by Iberdrola Canada Energy Services, to the Canadian group ATCO. Iberdrola Canada Energy Services operates the Alberta Hub Gas Storage natural gas storage facility in the province of Alberta, Canada. The asset has a total storage capacity of approximately 43 Bcf (24 Bcf net according to Iberdrola's shareholding).With this operation, Iberdrola continues its plan to divest non-strategic assets, in line with its climate action, energy transition and exit from the gas business initiated in 2001.Thus, the company practically closes its gas storage business, as it would only have one residual asset left in the United Kingdom, 4.1-Bcf Hatfield Gas Storage. With the divestment of the gas storage business in Canada, Iberdrola takes another step forward in its commitment to clean energy and decarbonisation of the economy.
Iberdrola has taken another positive step foward in its decarbonization strategy. The company, through its subsidiary Scottish Power Overseas Limited, has closed the sale of Alberta Hub Gas Storage, owned 57% by Iberdrola Canada Energy Services, to the Canadian group ATCO. Iberdrola Canada Energy Services operates the Alberta Hub Gas Storage natural gas storage facility in the province of Alberta, Canada. The asset has a total storage capacity of approximately 43 Bcf (24 Bcf net according to Iberdrola's shareholding).With this operation, Iberdrola continues its plan to divest non-strategic assets, in line with its climate action, energy transition and exit from the gas business initiated in 2001.Thus, the company practically closes its gas storage business, as it would only have one residual asset left in the United Kingdom, 4.1-Bcf Hatfield Gas Storage. With the divestment of the gas storage business in Canada, Iberdrola takes another step forward in its commitment to clean energy and decarbonisation of the economy.
