AltaGas gains regulatory approval for second level of LPG shipments

AltaGas Ridley Island Propane Export Terminal

With the pace of production and shipments at the Ridley Island Propane Export Terminal delivering impressive results to date in 2020, Alberta bases AltaGas has found success with a second request of the Canadian Energy Regulator to export an additional 46,000 barrels per day  of propane out of their Prince Rupert facility.

The initial application to seek the second level of propane shipments was submitted in November of 2019, the process delivering the positive assent on August 21st.

The most recent statistics released by the  Prince Rupert facility indicate that RIPET had shipped an average of 41,000 barrels per day this year, that from their initial export licence with the initial volume more than meeting the parameters in place from their original permit.

As we outlined in June, the success of AltaGas was noted by both the Prince Rupert Port Authority and CN Rail, the latter realizing additional freight movements through the addition of the Propane export facility on the North Coast.

In July, the company released their Second Quarter results and in a year full of challenges for the energy sector, the strong performance of RIPET was included as part of the highlights of the overview for shareholders and would be investors.

"Performance at RIPET remains strong. We continue to deliver on our goals, setting a record in the second quarter with 41,460 Bbls/d of Canadian propane exported to Asia on seven ships. We are pleased with the progress we continue to make at RIPET and we remain on track to hit 50,000 Bbls/d before year-end." -- From the AltaGas Second Quarter Report.

AltaGas won't take advantage of their second export permit just yet, as they await further guidance from the Federal government there has been no timeline announced for the introduction of additional shipments through Ridley Island.

For more notes related to AltaGas in Prince Rupert see our archive page here.

Cross posted from the North Coast Review.