Pacific Northern Gas Ltd. (PNG) was incorporated under the laws of British Columbia in 1965 as a wholly-owned subsidiary of Westcoast Transmission Company Limited (now Enbridge Inc.). PNG subsequently issued common and preferred shares to the public to fund the construction of a gas transmission pipeline in Northwest British Columbia and converted to a public company in 1968.
The transmission line was constructed in 1968 from a point 50 kilometers north of Prince George at Summit Lake on Enbridge’s Westcoast Energy pipeline system west through to Prince Rupert and Kitimat on the British Columbia coast. Following completion of the gas transmission line, PNG developed gas distribution services in the adjacent communities.
In 1982 PNG expanded its pipeline system for a methanol production facility constructed in Kitimat.
In 1993, PNG acquired Northland Utilities (B.C.) Limited that served the Dawson Creek and Tumbler Ridge areas. Three more acquisitions completed in 1997 involved the Centra Gas Fort St. John Inc. system; the Granisle grid; and Peace River Transmission Company Limited. The Fort St. John, Dawson Creek, Peace River Transmission and Tumbler Ridge gas pipeline systems were amalgamated into Pacific Northern Gas (N.E.) Ltd.
In 2000, a major company reorganization was undertaken in response to liquidity issues created when PNG’s largest customer, the methanol complex in Kitimat, closed for a one-year period. Savings were realized through downsizing and consolidation of responsibilities of operations and maintenance personnel.
In December 2003, Tricor Acquisition (STP) Inc., a subsidiary of Tricor Pacific Capital Inc., acquired PNG’s common shares held by Westcoast Energy Inc. In April 2005, all of the common shares of PNG owned by Tricor were sold and PNG became widely held.
In December 2011, PNG was acquired by AltaGas Ltd. of Calgary, Alberta. AltaGas is an energy infrastructure business with a focus on natural gas, power and regulated utilities.
In October 2018, AltaGas Canada Inc. (ACI) successfully completed its Initial Public Offering (IPO) and sale of common shares and was listed on the Toronto Stock Exchange under the symbol “ACI”. PNG is directly owned by ACI. Following the IPO, AltaGas Ltd. maintains a significant minority interest in ACI.