Record propane exports at Ridley Island

AltaGas Ltd. reported Thursday that the Ridley Island Propane Export Terminal exported a record 42,736 bbls/d of Canadian propane to Asia during the quarter, underpinned by ongoing growth in throughput volumes in northeast B.C.

The company said it exported an average of 43,000 bbls/d in the quarter, a 20% increase over the same period last year. Its goal is to soon export 50,000 bbls/d from that terminal.

article continues below

Meanwhile, its overall propane exports from North America are destined to continue rising even more, as a result of its stake in Petrogas Energy Corp., in which it now has a 74 per cent ownership.

The company's growth engine going forward will be its RIPET which has just gone into operation in the last two years and which continues to see growth in volumes, as well as its U.S.-based midstream assets.

During the quarter, the Canada Energy Regulator (CER) also granted AltaGas an additional 25-year licence to export up to 46,000 bbls/d of propane, bringing the aggregate propane export capacity under 25-year export licenses to 92,000 bbls/d.

Overall, the company was able to record a revenue increase to $969 million in the quarter, up from $888 million in 2019. For the first nine months of 2020, it reported revenue of $3.9 billion, down marginally from $3.96 billion in 2019.

The company shelled out $67 million in monthly dividend payments in the quarter and has committed $201 million for overall dividends in the first three quarters of this year.

Read more at The Daily Oil Bulletin.

Email Managing Editor Matt Preprost at

© Copyright Alaska Highway News


NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Alaska Highway News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Popular News

Lowest Gas Prices in Chetwynd, Dawson Creek, Fort Nelson, Fort St John, Tumbler Ridge
British Columbia Gas Prices provided by

Community Event Calendar

Find out what's happening in your community and submit your own local events.