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First cargo leaves Canada’s first marine propane export facility
The first cargo from the Ridley Island Propane Export Terminal is officially onboard the Sumire Gas VLGC and on its way to Asia, AltaGas said on Tuesday. AltaGas Photos
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Sumire Gas, the first VLGC to depart RIPET, arrives at the Ridley Island Propane Export Terminal (RIPET).
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AltaGas
The facility at Prince Rupert, B.C. is Canada’s first marine propane export project and is expected to help ease an oversupplied local market. AltaGas is 70% owner and operator in a joint venture with Netherlands-based tank storage firm Royal Vopak, which holds 30% stake.
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AltaGas
AltaGas says that RIPET provides producers and customers with a significant locational advantage given comparatively short shipping distances to markets in Asia – notably a 10-day shipping time from Canada’s West Coast compared to 25 days from the U.S. Gulf Coast.
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AltaGas
The facility, which has a capital cost of $450 million to $500 million, has a multi-year agreement with Japan-based propane importer Astomos Energy to purchase at least 50 percent of its annual shipments. It has export capacity of 1.2 million tonnes per year.
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AltaGas
The first rail delivery of propane reaches RIPET in April 2019.
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AltaGas
Maple Gas, one of the first VLGCs that will carry Canadian propane to Japan.
Photo By
AltaGas
