The Ridley Island Propane Export Terminal (RIPET) will be in operation this spring.
AltaGas released its fourth quarter results, and confirmed the approximate start day for RIPET — its “cornerstone asset” in the midstream segment. The first cargo is expected to leave the terminal in the second quarter of 2019.
Midstream operations involve transporting propane using rail, pipeline, or truck. In this case, AltaGas is using CN Rail, and will ship propane to Asia from Ridley Island using liquefied propane gas (LPG) tankers.
The Calgary-based company anticipates $1 billion in growth from its projects coming online in 2019, including the Ridley Island propane terminal, Nig Creek Gas Plant, Mountain Valley Pipeline, Townsend 2B Facility and the Marquette Connector Pipeline.
The expansion of the North Pine fractionator facility near Fort St. John, will also feed additional propane into the Ridley Island export terminal once it’s complete in the fourth quarter of 2019.
“With our RIPET project coming online, as scheduled in early spring, as the first propane export terminal in western Canada, we are poised to execute on our strategy to leverage this unique capability to attract new producer commitments that will increase utilization of our existing assets and provide new organic investment opportunities,” said Randy Crawford, President and chief executive officer of AltaGas in the press release on Feb. 28.
“At the same time, I see ample opportunity in our utilities to renew and extend our distribution pipelines and drive higher returns through operational efficiencies, superior customer service and accelerated rate recovery mechanisms.”
AltaGas currently has three full-time positions posted online for operators, technicians and an administrative coordinator. The terminal will introduce approximately 40 permanent jobs to the region. The export terminal is located 10km outside the city of Prince Rupert.
The $500-million terminal will export up to 1.2 million tonnes of propane annually.
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Shannon Lough | Editor
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