AltaGas has announced plans to build a propane export terminal near Prince Rupert.
The company has reached initial agreements with Ridley Terminals to develop, own, and operate the Ridley Island Propane Export Terminal.
The proposed facility will be designed to ship up to 1.2 million tonnes of propane a year which will be transported to the export terminal by rail.
AltaGas Chairman and CEO David Cornhill anticipates the facility will be the first to export propane from the BC west coast and that the terminal will open up new markets for Western Canada gas producers.
Prince Rupert Port Authority President and CEO Don Krusel says the project fits with the type of growth and diversification in the port’s development plan.
AltaGas says it’s preliminary engineering $400-$500 million dollar export terminal is complete and the process of engaging and consulting with First Nations, communities, government, and regulatory agencies is underway.
A final investment decision is anticipated in 2016 with operations targeted to get underway in 2018.