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AltaGas inks deal for North Coast propane exports

A Calgary-based company says its plans for a North Coast propane export facility have received a big boost.

AltaGas says its found a buyer for half of the propane it hopes to ship from its proposed Ridley Island Propane Export Terminal near Prince Rupert.

Company President and CEO David Harris says AltaGas has reached Memorandum of Understanding with Astomos Energy for at least 50 percent of the 1.2 million tonnes of propane available for shipping from the terminal each year.

AltaGas announced plans for the $400 million to $500 million project in January and has started the environmental review process.

The company says it expects to make a final investment decision this year and plans to start commercial operations in 2018, subject to approvals and First Nations and stakeholder engagement.

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