AltaGas signs major deal with Japan propane giant

Astomos Energy Corp to purchase 50 per cent of Ridely Terminal gas

With construction of its Ridley Island Propane Terminal advancing on time and on budget, AltaGas announced last week a major sales agreement with Japanese propane giant, Astomos Energy Corporation.

At an official signing ceremony Aug. 1 at AltaGas headquarters in Calgary, Astomos committed to purchase 50 per cent of the 1.2-million tonnes of liquefied petroleum gas each year from the Ridley Island export terminal, beginning in the first quarter of 2019.

AltaGas chairman David Cornhill said the value of the deal could grow to $500 million per year, singularly boosting Canadian exports to Japan by up to seven per cent, the Financial Post reported.

In a press release, AltaGas called the signing a major step forward for the Ridley Terminal, the first of its kind off Canada’s west coast. The deal comes when Canada is seeking to diversify its energy markets, AltaGas said, providing producers in northeast B.C. new access to premium markets in Asia.

“The advantages of the location of the Terminal are indisputable: a 10-day sail to Japan versus a 25-day sail from the U.S. Gulf Coast, access to Canadian National Railway’s existing rail network and AltaGas’ processing plants; and a world class marine jetty with deep water access to the Pacific Ocean.”

Construction crews are currently pouring the concrete foundation of the terminal’s 45-metre-tall propane tank. The company reported in a newsletter it will require 12 million litres of concrete, and will take shape over the next few months with the final pour scheduled for the end of 2017.

The roof section of the dome will be brought into place by the first quarter of 2018.

Just Posted

Kurka keeps thing official

The longtime hockey referee has been on the ice in Prince Rupert for more than 30 years

Rampaging towards the playoffs

The Prince Rupert Rampage beat the Terrace River Kings 8-5 on Jan. 20

Sweet tradition returns: Sugar Shack 2018

The 2018 Sugar Shack festival celebrates Francophone culture in Prince Rupert Jan. 24-27

Joie de vivre

Finding those “awe” moments with family, friends and food

Christians unite for one service in Rupert

Father Terry Brock is hoping to unite all of Prince Rupert’s Christians under one roof for one night

This Week Episode 68

From inside the Northern View office in Prince Rupert we bring you all the news headlines

Carriers wanted for the Northern View

We have open routes for carriers all over Prince Rupert

Liberals quietly tap experts to write new paternity leave rules

Ideas include creating an entirely new leave benefit similar to one that exists in Quebec

Insurers say Canadian weather getting hotter, wetter and weirder

Average number of days with heavy rain or snow across Canada has been outside norm since spring 2013

Final phase of MDMA-assisted psychotherapy trials to kick off in B.C.

Doctors hope to get psychedelic-assisted psychotherapy legalized in Canada and the U.S. by 2021

VIDEO: Thousands join women’s march events across B.C.

Today marks one year since the first Women’s March on Washington

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

B.C. woman who forged husband’s will gets house arrest

Princeton Judge says Odelle Simmons did not benefit from her crime

Most Read