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CALGARY, A.B. – AltaGas has signed an agreement that will see 50 per cent of the liquefied petroleum gas from the Ridley Island Propane Export Terminal sent to Japan.
The terminal is currently under construct and will see liquefied petroleum gas (LPG) exported from Northeast B.C. to Japan. Astomos, one of the world’s largest LPG players, will purchase 50 percent of the 1.2 million tonnes of propane shipped from the Terminal each year, beginning in Q1 2019.
The long term agreement is a major step forward for the Ridely Export Terminal which is expected to be up and running during the first quarter of 2019.
The board chairman of AltaGas, David Cornhill said this agreement could grow to $500 million a year in new exports.
The new terminal will offer several advantages over similar terminals in the U.S. Gulf Coast including a 10-day sail to Japan versus a 25-day sail from the U.S. Gulf Coast.
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