Wolf Midstream Announces Proprietary, Integrated Energy Infrastructure System, NGL North

NGL North will support Alberta's petrochemical industry and oil sands decarbonization

CALGARY, AB, May 12, 2021 /CNW/ - Wolf Midstream ("Wolf") is pleased to announce a positive final investment decision to construct, own and operate a proprietary, integrated natural gas liquids ("NGL") recovery, transportation and separation system, known as NGL North. By recovering higher carbon NGL from the Alberta natural gas system, NGL North is expected to reduce carbon dioxide ("CO₂") emissions in the Christina Lake area by over 200,000 metric tonnes per year and will provide critical feedstock to support Alberta's petrochemical industry.

NGL North has three primary components:

• Recovery ("Wolf Recovery Facility I" or "WRF I"): an NGL recovery facility with an ultimate capacity of approximately one billion cubic feet per day, located in Northeast Alberta that recovers higher carbon NGL prior to downstream combustion;
• Transportation ("Access NGL"): an NGL transportation system that will transport recovered NGL from Wolf Recovery Facility I to the Wolf Feedstock Separation complex utilizing Wolf's existing idle 16-inch pipeline; and
• Separation ("Wolf Feedstock Separation" or "WFS"): an NGL separation complex located in Sturgeon County, Alberta, and immediately proximate to Wolf's existing Sturgeon Terminal and Alberta Carbon Trunk Line origin point. Wolf Feedstock Separation will have an ultimate capacity to produce approximately 70,000 barrels per day of NGL, including ethane, propane, butane, and condensate.

"The NGL North system will recover higher carbon product otherwise used for combustion with higher associated emissions and separate the recovered NGL into essential building blocks for products that enable modern living," said Gordon Salahor, Wolf's Chief Executive Officer. "Once operational, NGL North will contribute to reducing CO₂ emissions for the oil sands industry, which is consistent with Wolf's investment strategy to develop assets that are positioned for energy transition."

"This investment is a terrific example of how Alberta's energy industry is working to maximize the value of Alberta's natural resources while also supporting real emission reductions," said Dale Nally, Alberta's Associate Minister of Natural Gas and Electricity. "It's also a great example of how our energy industry continues to spur job creation and economic growth in the province. I applaud Wolf Midstream for their leadership and support in helping Alberta's economic recovery."

"The Wolf management team continues to successfully execute its strategy to invest in midstream assets that provide resource optimization solutions and support the evolution of the energy sector," said Bruce Hogg, Managing Director, Head of the Sustainable Energy Group, Canada Pension Plan Investment Board. "We are fully supportive of Wolf's innovative NGL North development, one that will benefit from future growth opportunities in Alberta, as the company executes its strategy to diversify across asset types."

Subject to regulatory and environmental approvals, NGL North is anticipated to be in-service in 2023, creating over 400 jobs during construction and approximately 50 full-time positions once operational. NGL North will be Wolf's third asset following the acquisition of Access Pipeline and completion of the Alberta Carbon Trunk Line, which began operations in June 2020 and has safely delivered over one million tonnes of CO₂ to permanent storage.

About Wolf Midstream www.wolfmidstream.com

Wolf Midstream is a Calgary-based private company backed by the Canada Pension Plan Investment Board ("CPP Investments"). Wolf was formed in 2016 with an investment from CPP Investments to focus on the acquisition and development of midstream infrastructure and opportunities in Western Canada. Wolf is committed to developing innovative, sustainable midstream solutions and transforming the future of carbon reduction through the development of world-scale CO₂ infrastructure in both Canada and abroad.

SOURCE Wolf Midstream