ATCO's consolidated financial statements and management's discussion and analysis for the quarter ended June 30, 2020 will be available on the ATCO website (www.ATCO.com), via SEDAR (www.sedar.com) or can be requested from the Company.Your Personalized Market CenterThe COVID-19 pandemic, continued low oil prices and slowing global economic activity have caused far-reaching concern and economic hardship for consumers, businesses and communities across the globe. Construction is set to begin immediately with full operation targeted for late 2021.“Through this development, our customers are seeing the benefits of our combined expertise in the safe and reliable development, operation, and management of large-scale petrochemical and hydrocarbon facilities and pipelines,” said Siegfried Kiefer, President & Chief Executive Officer, CU, and President, ATCO Ltd. "The pipeline transport option and increased storage capacity is of crucial importance in providing security of supply for our customers, and in supporting growth and development in this economically vital region of Alberta.” Canadian Utilities Ltd. of Calgary says it has signed agreements to sell its entire Canadian fossil fuel-based electricity generation portfolio for approximately $835 million. Canadian Utilities Limited, an ATCO company, has been awarded $2.8 million in funding from Emission Reductions Alberta's Natural Gas Challenge to build a first-of-its-kind hydrogen blending project in Fort Saskatchewan, Alberta, Canada. This news release should be used as preparation for reading the full disclosure documents. Canadian Utilities Limited (CU), an ATCO company, announced today that the partnership between ATCO Energy Solutions Ltd. and Petrogas Energy Corp. has secured long-term contracts for the construction and operation of a fifth salt cavern storage facility at the ATCO Heartland Energy Centre near Fort Saskatchewan, Alberta. atco.com Q2 2020 INVESTOR FACT SHEET STRUCTURES &LOGISTICS |NELTUMEPORTS|CANADIAN UTILITIES With approximately 6,500 employees and assets of $22 billion, ATCO is a diversified global corporation with investments in the In this time of uncertainty, our people are working hard to ensure that we continue to support our customers and the communities that depend on our essential services. ATCO Ltd. Q2 2020 Earnings (CNW Group/ATCO Ltd.) Lower adjusted earnings in the second quarter of 2020 were mainly due to ATCO subsidiary Canadian Utilities' sale of its Canadian fossil fuel-based electricity generation business and 80 per cent ownership interest in Alberta PowerLine in 2019, which together contributed $9 million in adjusted earnings in the second quarter of 2019. The development of this facility will increase aggregate hydrocarbon storage capacity at the ATCO Heartland Energy Centre by approximately 20 per cent, while creating a regional hub for feedstock storage and management in Alberta’s Industrial Heartland region. Canadian Utilities Limited (CU), an ATCO company, announced today that the partnership between ATCO Energy Solutions Ltd. and Petrogas Energy Corp. … Lower adjusted earnings in the second quarter of 2020 were mainly due to ATCO subsidiary Canadian Utilities' sale of its Canadian fossil fuel … The Company has also secured long-term contracts for the construction and operation of a regional pipeline connecting the new salt cavern facility to existing pipelines in the area for receipt and delivery of hydrocarbon products.CU currently operates four salt caverns under long-term contract, which have a combined hydrocarbon storage capacity of 400,000 cubic metres.
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