Just 15 months after its first shipment from Ridley Island Propane Export Terminal (RIPET), AltaGas is already planning to double the facility’s export capacity.
AltaGas currently holds a 25-year energy export licence for 40,000 barrels of propane per day. Recently the Canadian Energy Regulator (CER) approved the company for a second licence of equal volume and duration.
Although CER has given its approval, AltaGas is now awaiting the final sign-off from Canada’s energy minister.
The new licence, along with a 15 per cent over-allotment, will give RIPET a total export capacity of 92,000 bpd.
Canada’s first marine export facility for propane, RIPET began receiving feedstock in mid-April last year. The first shipment departed the terminal on May 23 bound for Asia.
AltaGas’ financial performance last year was underpinned by what the company calls significant contributions from the terminal, with export volumes in the fourth quarter averaging 36,400-bpd on two ships per month.
In the second quarter this year, AltaGas set a personal record of 41,460 bpd on seven ships. The company said despite large economic disruptions caused by the global pandemic, AltaGas operations remain resilient and are on track to meet 2020 goals.
“We were able to maintain safe and reliable operations, continue to deliver critical energy to end users, and honour our social and moral contract that we have in the communities where we serve,” Randy Crawford, president and CEO of AltaGas stated in a press release. “This feat was only possible through the tireless efforts and adaptability of our committed workforce and our valued vendor partners.”