SPOKANE, WA -- (Marketwired) -- 06/24/14 -- Salix, Inc. , a non-utility subsidiary of Avista Corp. (NYSE: AVA), has been formed to explore domestic markets that could be served with liquefied natural gas, primarily in the West and Pacific Northwest. Robert J. Lafferty, a 30-year employee of Avista, has been named president of Salix.
"The increase in natural gas production and sustained lower costs make it possible to serve new markets, especially those markets where environmental issues and long-term economics are key drivers," Lafferty said. "Salix will explore ways to extend the significant benefits of natural gas beyond traditional pipeline-supplied markets."
"Avista Corp.'s growth strategy has long-been to deliver innovative, cost-effective energy solutions. Salix will be the platform for our ongoing work exploring the growth potential of LNG with customers in search of better solutions," said Scott Morris, chairman, president and CEO of Avista Corp.
Salix was formed to plan, coordinate and provide custom liquefied natural gas solutions for wholesale and business-to-business markets in the United States. It is a subsidiary of Avista Capital, Inc., which is a wholly-owned subsidiary of Avista Corp (AVA) . (NYSE: AVA). For more information, please visit the company's website at SalixLNG.com.
About Avista Corp.
Avista Corp. is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is our operating division that provides electric service to 366,000 customers and natural gas to 326,000 customers. Our service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.5 million. Avista's primary, non-utility subsidiary is Ecova , an energy and sustainability management company with over 700 expense management customers, representing more than 700,000 sites. Our stock is traded under the ticker symbol "AVA." For more information about Avista, please visit www.avistacorp.com.
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Source: Avista Corp.