AltaGas is ahead of schedule to bring its propane to market.
The company announced on Dec. 20 that the $120 million North Pine Facility, 40km northwest of Fort St. John has been completed $15 million under budget.
“The completion of our North Pine Facility is another major milestone in our northeast B.C. strategy. It will soon be followed by our Ridley Island Propane Export Terminal (RIPET), paving the way to new market alternatives for Western Canadian gas producers,” said David Harris, president and CEO of AltaGas, in the press release.
The company expects the Ridley Island propane project to be completed by the first quarter of 2019. The terminal will be able to ship 1.2 million tonnes of propane annually.
“Once RIPET is complete, we will be able to offer producers a broad suite of midstream services and new market diversification, including premium netbacks through the strong propane demand and pricing in Asian markets,” Harris said.
Construction crews were completing the concrete outer wall of the propane tank in December. The release stated that the inner steel tank roof is also nearing completion, and the inner steel tank will be installed in early 2018.
AltaGas said that it’s Ridley Island project is ahead of schedule and on-budget.