AltaGas is to go ahead with its Ridley Island Propane Export Terminal, having received approval from Canadian federal regulators.
The company has secured land tenure along with rail and marine infrastructure on Ridley Island, in British Columbia, and will proceed with the construction, ownership and operation of the terminal.
The facility is expected to be the first propane export facility on Canada’s west coast. Located near Prince Rupert, on a section of land leased by Ridley Terminals Inc from Prince Rupert Port Authority, a key advantage is short shipping distances to markets in Asia, notably a 10-day shipping time compared with 25 days from the US Gulf Coast. The brownfield site also benefits from good railway access and a marine jetty with deepwater access to the Pacific Ocean.
The terminal will be designed to ship 1.2 million tonnes of propane a year and is estimated to cost C$450-500 million. AltaGas will be offering a third party the option to take an equity position of up to 30 percent.
8th March 2017