RIPET providing "meaningful contributions" to AltaGas

The debut of the Ridley Island Propane Export Terminal is getting some rave reviews from the AltaGas Boardroom in Calgary, with the first few months of operations for the newest shipping terminal on the North Coast making for some strong financial results in their second quarter update.

The report which was released last week highlighted what AltaGas calls the meaningful contribution that the new terminal has had on company operations.

Such has been the strong results so far that AltaGas President and CEO Randy Crawford noted as part of the report how the new terminal has contributed to the supply chain options for the Alberta energy company.

 "RIPET is performing as expected, and we are seeing meaningful contributions from this asset. Our ability to handle the molecule through the entire value chain uniquely positions us to offer our customers a complete solution and, ultimately, higher netbacks for their product. This provides a competitive advantage that we expect will attract additional volumes to our system and further growth across our integrated platform in the future."

So far the facility has averaged two shipments per month, with the next port call coming on August 11th when the vessel Maple Gas will once again arrive in Prince Rupert harbour to take on its cargo for shipment to Asia.

Full Second Quarter report can be reviewed here.

For more items of note related to the RIPET facility see our archive page here.

Cross posted from the North Coast Review.