CALGARY, AB. — Royal Vopak and AltaGas Ltd. announced on Friday that they have entered into a joint venture to invest in the development of the Ridley Island Propane Export Terminal.
The terminal is expected to be the first propane export facility on Canada’s west coast. According to AltaGas, the project will ship 1.2 million tonnes of propane per year, with approximately 96,000 cubic meters of storage capacity. The facility is expected to be commissioned in the first quarter of 2019.
“We are excited to form this joint venture with Vopak and have them as a partner in RIPET,” said David Harris, President and CEO of AltaGas. “Vopak is a very strategic global tank storage company and brings significant experience in terminals worldwide. We look forward to working with them on RIPET as well as considering future opportunities to further build out our joint venture.”
The site of the proposed Ridley Island Propane Export Terminal is on a section of land leased by Ridley Terminals from the Prince Rupert Port Authority.
Propane from British Columbia and Alberta would be transported to the facility using 50-60 rail cars a day via the CN Rail network.