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ALBERTA NATURAL GAS SUBSIDIARY REACHES US$150 MILLION INSURANCE SETTLEMENT FOR DAMAGE AND LOSS RESULTING FROM CHEMICAL PLANT EXPLOSION

 ALBERTA NATURAL GAS SUBSIDIARY REACHES US$150 MILLION INSURANCE SETTLEMENT FOR DAMAGE AND LOSS RESULTING FROM CHEMICAL PLANT EXPLOSION
 CALGARY, Alberta, May 27 /PRNewswire/ -- Alberta Natural Gas Company Ltd. (ANG) announced today that its wholly owned subsidiary, ANGUS Chemical Company (ANGUS), has settled its claim against Industrial Risk Insurers (IRI) for damage and loss resulting from an explosion which occurred May 1, 1991, at the ANGUS specialty chemicals plant located in Sterlington, La. The portion of the plant which produces nitroparaffins was substantially damaged in the blast. According to the settlement, IRI will pay ANGUS a total of US$150 million, of which US$100 million has already been received.
 "We are pleased with this timely and reasonable settlement," said Roger Secrist, chairman and chief executive officer of ANGUS.
 ANG also announced today that full production capacity has been restored at the rebuilt Louisiana plant. The plant is now producing high quality nitroparaffins at pre-explosion levels. Phase II, of a two- phase rebuilding program, was commissioned earlier this month. Phase I began operating in early March.
 "We expect to be able to meet the full requirements of our customers," said Secrist. "Our fast-track rebuild schedule reduced the consequences of a longer outage."
 These announcements follow less than one week after the May 21, 1992, decision by the National Energy Board (NEB) authorizing ANG to proceed with construction of its pipeline expansion facilities in southeastern British Columbia.
 "With the Louisiana specialty chemicals plant now in full operation, and with the NEB approval of our pipeline expansion project, we are well positioned for future growth," said Norman Wagner, chairman, president and chief executive officer of ANG.
 Related opportunities from the pipeline expansion project include the expansion of ANG's natural gas extraction plant in Cochrane, Alberta and the proposed construction of a cogeneration plant to be located on ANG's B.C. pipeline.
 ANG operates in both hydrocarbons and specialty chemicals. ANG's common shares are listed on the Toronto, Montreal, Vancouver and Alberta Exchanges and trade under the symbol ANG.
 -0- 05/27/92
 /CONTACT: Paula Ruttan of Alberta Natural Gas Company Ltd., 403-691-7777/
 (ANG.) CO: Alberta Natural Gas Company Ltd. ST: Alberta IN: OIL SU:


CH -- LA029 -- 4465 05/27/92 17:34 EDT
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Date:May 27, 1992
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