Latest news with #AltaGas
Fibre2Fashion
15 hours ago
- Business
- Fibre2Fashion
BASF & AltaGas sign butane deal via REEF on Ridley Island
BASF Intertrade AG ("BASF") and AltaGas Ltd. ("AltaGas") (TSX: ALA) have signed a long-term commercial agreement for supply of butane via AltaGas and Royal Vopak's ("Vopak") (XAMS: VPK) Ridley Island Energy Export Facility ("REEF") commencing in 2027. REEF is a large-scale, open access liquefied petroleum gas and bulk liquids terminal with comprehensive rail and marine infrastructure currently under construction on Ridley Island, British Columbia, Canada. REEF is expected to be completed by 2026 year-end. Agreement Diversifies BASF's Supply and Strengthens its Cracker Feedstock Supply Portfolio BASF and AltaGas have signed a long-term agreement for butane supply via the Ridley Island Energy Export Facility, starting in 2027. The deal provides BASF with reliable Western Canadian feedstock for its Asian operations, diversifies its cracker feedstock portfolio, and strengthens AltaGas' export platform with a high-quality, investment-grade counterparty. The agreement will provide BASF with access to competitive and reliable butane from Western Canada, which will be used mainly as feedstock for BASF's growing production footprint in Asia. This partnership will diversify BASF's cracker feedstock portfolio and strengthen the link between Canada, as one of the world's largest energy producing regions, and Asia, one of the fastest growing demand regions globally. The agreement will provide shorter lead times and reliable shipping deliveries to Asia. "This agreement marks a significant step in strengthening BASF's global feedstock supply portfolio," says Matthias Dohrn, President Global Procurement at BASF and Chairman of the Supervisory Board of BASF Intertrade AG . "By partnering with AltaGas, we are not only securing reliable and competitive access to butane from Western Canada, but also reinforcing our commitment to supply chain diversification and resilience. AltaGas brings expertise and a strong infrastructure platform to the table, and we look forward to our collaboration to support our growth in Asia." Further De-risk AltaGas' Export Platform This agreement, which AltaGas had previously announced as part of its first quarter 2025 results, represents another positive step in de-risking its global exports operations. The contract diversifies AltaGas' downstream customer base with the addition of BASF, which is an A-rated investment grade counterparty with broad global operations and strong long-term growth plans. BASF joins AltaGas' broad customer base of more than 70 Canadian producers and aggregators and Asian downstream customers that utilize AltaGas' open access export terminals to facilitate the best outcomes for their businesses. The agreement is expected to commence in 2027 and reinforces the strategic value of AltaGas' west coast LPG export platform. "We are excited to deepen our relationship with BASF and play a key role in helping the company deliver on their long-term growth objectives," said Vern Yu, President and Chief Executive Officer of AltaGas . "This agreement is further recognition of our structural advantage of exporting LPGs to Asia from the North American west coast. The addition of a high-quality counterparty such as BASF further de-risks our export platform, advancing our strategic priorities." Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
Cision Canada
a day ago
- Business
- Cision Canada
BASF AND ALTAGAS SIGN LONG-TERM BUTANE SUPPLY AGREEMENT
ZUG, Switzerland and CALGARY, AB, July 23, 2025 /CNW/ - BASF Intertrade AG ("BASF") and AltaGas Ltd. ("AltaGas") (TSX: ALA) have signed a long-term commercial agreement for supply of butane via AltaGas and Royal Vopak's ("Vopak") (XAMS: VPK) Ridley Island Energy Export Facility ("REEF") commencing in 2027. REEF is a large-scale, open access liquefied petroleum gas and bulk liquids terminal with comprehensive rail and marine infrastructure currently under construction on Ridley Island, British Columbia, Canada. REEF is expected to be completed by 2026 year-end. Agreement Diversifies BASF's Supply and Strengthens its Cracker Feedstock Supply Portfolio The agreement will provide BASF with access to competitive and reliable butane from Western Canada, which will be used mainly as feedstock for BASF's growing production footprint in Asia. This partnership will diversify BASF's cracker feedstock portfolio and strengthen the link between Canada, as one of the world's largest energy producing regions, and Asia, one of the fastest growing demand regions globally. The agreement will provide shorter lead times and reliable shipping deliveries to Asia. "This agreement marks a significant step in strengthening BASF's global feedstock supply portfolio," says Matthias Dohrn, President Global Procurement at BASF and Chairman of the Supervisory Board of BASF Intertrade AG. "By partnering with AltaGas, we are not only securing reliable and competitive access to butane from Western Canada, but also reinforcing our commitment to supply chain diversification and resilience. AltaGas brings expertise and a strong infrastructure platform to the table, and we look forward to our collaboration to support our growth in Asia." Further De-risk AltaGas' Export Platform This agreement, which AltaGas had previously announced as part of its first quarter 2025 results, represents another positive step in de-risking its global exports operations. The contract diversifies AltaGas' downstream customer base with the addition of BASF, which is an A-rated investment grade counterparty with broad global operations and strong long-term growth plans. BASF joins AltaGas' broad customer base of more than 70 Canadian producers and aggregators and Asian downstream customers that utilize AltaGas' open access export terminals to facilitate the best outcomes for their businesses. The agreement is expected to commence in 2027 and reinforces the strategic value of AltaGas' west coast LPG export platform. "We are excited to deepen our relationship with BASF and play a key role in helping the company deliver on their long-term growth objectives," said Vern Yu, President and Chief Executive Officer of AltaGas. "This agreement is further recognition of our structural advantage of exporting LPGs to Asia from the North American west coast. The addition of a high-quality counterparty such as BASF further de-risks our export platform, advancing our strategic priorities." About BASF Intertrade BASF Intertrade AG is the global trading organization of the BASF Group, specializing in the trade of petroleum, petrochemicals, and related products. Headquartered in Zug, Switzerland, the company also maintains offices in Singapore, Shanghai, and Houston. About BASF At BASF, we create chemistry for a sustainable future. Our ambition: We want to be the preferred chemical company to enable our customers' green transformation. We combine economic success with environmental protection and social responsibility. Around 112,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises, as core businesses, the segments Chemicals, Materials, Industrial Solutions, and Nutrition & Care; our standalone businesses are bundled in the segments Surface Technologies and Agricultural Solutions. BASF generated sales of €65.3 billion in 2024. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at About AltaGas AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth Utilities and Midstream business that is focused on delivering resilient and durable value for its stakeholders. From wellhead to tidewater, AltaGas' Midstream business is focused on providing its customers with safe and reliable service and connectivity that facilitates the best outcomes for their businesses. This includes global open-market access for North American LPGs, which provides North American producers and aggregators with the best netbacks for LPGs while delivering diversity of supply and stronger energy security to its downstream customers in Asia. For more information please contact: AltaGas: Jon Morrison, Senior Vice President, Corporate Development and Investor Relations ([email protected]) or Aaron Swanson, Vice President, Investor Relations ([email protected]) BASF: Dagmar Lonien, Head of Communications, Global Procurement ([email protected]) FORWARD-LOOKING INFORMATION BASF: This release contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward-looking statements contained in this release above and beyond the legal requirements. AltaGas This news release contains forward-looking information (forward-looking statements). Words such as"may", "can", "would", "could","should", "will", "intend","plan", "anticipate", "believe", "aim", "seek", "propose", "contemplate", "estimate", "focus", "strive", "forecast","expect", "project", "target", "potential", "objective", "continue","outlook", "vision", "opportunity" and similar expressions suggesting future events or future performance, as they relate to the Corporation or any affiliate of the Corporation, are intended to identify forward-looking statements. In particular, this news release contains forward- looking statements with respect to, among other things, the anticipated benefits of the long-term commercial agreement, including, among other things, providing competitive and reliable butane feedstock to BASF, strengthening the link between Canada and Asia, providing shorter lead times and reliable shipping deliveries to Asia and de-risking AltaGas' global export operations; the expected commencement date of butane supply pursuant to the agreement; construction progress and the anticipated in-service date of REEF; and the anticipated benefits of REEF. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, the failure to realize the anticipated benefits of the long-term commercial agreement; changes in market, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. The forward-looking statements contained in this news release are expressly qualified by these cautionary statements.
Cision Canada
04-07-2025
- Business
- Cision Canada
ALTAGAS TO ISSUE SECOND QUARTER 2025 RESULTS
CALGARY, AB, July 4, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) will release its second quarter 2025 results on Friday, August 1, 2025, before market open. A conference call and webcast will be held the same day to discuss the financial results and other corporate developments. Conference Call and Webcast Details: Date: Friday, August 1, 2025 Time: 9:00 a.m. MT (11:00 a.m. ET) Webcast: Dial-in (Audio only): +1 437 900 0527 or toll free at +1 888 510 2154 Shortly after the conclusion of the call a replay will be available on the Company's website or by dialing +1 289 819 1450 or toll free +1 888 660 6345. Passcode 73282#. ABOUT ALTAGAS AltaGas is a leading North American infrastructure company that connects customers and markets to affordable and reliable sources of energy. The Company operates a diversified, lower-risk, high-growth energy infrastructure business that is focused on delivering stable and growing value for its stakeholders. For more information visit or reach out to one of the following: Investor Inquiries 1-877-691-7199 [email protected] Media Inquiries 1-403-206-2841 [email protected] FORWARD-LOOKING INFORMATION This news release contains forward-looking statements. When used in this news release, the word "will" and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, timing of release of financial results, conference call and webcast, replay and archiving. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Hamilton Spectator
12-06-2025
- Business
- Hamilton Spectator
Trigon finalizes $750M investment in North Coast LPG facility
Trigon Pacific Terminals' board passed its final investment decision today (June 11) on a $750 million liquefied petroleum gas (LPG) export facility in Prince Rupert despite a current exclusivity deal between the Prince Rupert Port Authority and an Altagas/Royal Vopak partnership. The facility will be able to export up to 2.5 million tonnes of primarily Alberta-produced propane and butane annually, positioning it as a major LPG export hub in Canada. Pending all required legal and regulatory approvals, the company could begin exports by late 2029. 'We've come to the table with investment dollars and now we need the federal government to expedite this shovel-ready project that is clearly in the national interest,' said Trigon CEO Rob Booker. Booker pointed out that the project aligns with Canada's economic goals of trade diversification and expanding exports of critical minerals and clean energy to global markets beyond the U.S., particularly in Asia. While Alberta supplies the product, Trigon offers reliable coastal access needed to move it to international markets quickly, he said. 'We want to keep this project moving along because we have some momentum now,' said Craig Olley, Trigon's president. He noted that Asian buyers currently lack open access to LPG, which Trigon aims to offer by entering the market. 'We have a sort of responsibility to provide open market, fair access to the consumers in Japan, and currently, today, they don't have that.' The president added that AltaGas and Royal Vopak cuurently hold exclusive rights to export this type of energy out of Prince Rupert, effectively giving them a monopoly on the West Coast. 'It's always good to have some healthy competition,' said Olley. He recently returned from Japan as part of the business delegation accompanying Premier David Eby on his trade tour. He highlighted the strong LPG demand in Japan and South Korea, noting that Malaysia has also begun to show interest. 'At least a dozen different entities were supportive and pleased to see Trigon stepping up to facilitate LPG movement into Asia. They understand that Prime Minister Carney is supportive of these cleaner, lower-emission type fuels for energy use in Asia,' said Olley. In February, amid the Canada-U.S. tariff dispute, Booker wrote to the Prime Minister urging the federal government to direct the Prince Rupert Port Authority (PRPA) to revoke the exclusive LPG export access granted to AltaGas and Royal Vopak. The port authority, which had already partnered with the two companies on a $1.35 billion export facility in the city maintained its position against allowing Trigon to expand LPG operations on Ridley Island. Olley noted that Trigon already has key infrastructure in place, including LPG loading arms, existing rail connections, and marine berth access, which removes the need for new construction. He said AltaGas and Royal Vopak currently use Trigon's loading arms for their LPG exports. He confirmed that the existing setup can also handle Trigon's own exports in the future. Trigon's June 11 news release highlighted support from Chief Councillor Garry Reece of the Lax Kw'alaams Band, Chief Robert Nelson of the Metlakatla First Nation, and the Government of Alberta on this project. 'We have some of the largest reserves of natural gas and natural gas liquids in the world and are working hard to meet the growing demand of our partners in Japan, Korea and Asia. This new Indigenous-backed facility will play a major role in the long-term success of these partnerships and in promoting Indigenous economic reconciliation,' stated Brian Jean, Alberta Minister of Energy and Minerals. As of 2024, Trigon Pacific Terminals is the largest terminal by volume at the Port of Prince Rupert, having handled 9.1 million metric tonnes of dry and liquid bulk products. The multi-commodity bulk terminal ships various materials, including steelmaking and thermal coal, petroleum coke, iron ore pellets, and liquid propane gas (LPG). According to the Canadian government, Canada produced 46.7 million tonnes of coal in 2022. Of that, 59 per cent was metallurgical coal used in steelmaking, while 41 per cent was thermal coal used for electricity generation. The government noted that coal-fired power remains the largest global source of greenhouse gas emissions, contributing to climate change and posing health risks. When asked whether Trigon would scale back its thermal coal exports once its zero-emission ammonia/hydrogen and lower-emission LPG facilities become operational, the company said it would remain committed to continuing current coal exports. 'We understand the importance of these resources to various industries and economies; the world will always need steel, and many countries still rely on thermal coal for energy. We are dedicated to maintaining our operations to support their needs,' said Olley. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
CTV News
09-06-2025
- Business
- CTV News
Keyera doubles natural gas volumes to be shipped via AltaGas terminal in B.C.
CALGARY — Keyera Corp. has reached an agreement to double the volume of liquefied petroleum gas it plans to export through a West Coast export facility being built by AltaGas Ltd. AltaGas said in February that Keyera had contracted 12,500 barrels per day of capacity to ship the gas to Asia via the Ridley Island Energy Export Facility near Prince Rupert, B.C. The companies announced Monday that will rise to 25,000 barrels per day under 15-year tolling agreements. The facility is to be used to export propane and butane in its first phase, with the possibility of expanding into ethane and other valuable liquids in the future. It's being built next to a propane export facility AltaGas already operates on Ridley Island. AltaGas says the uncertain trade environment has underscored the need for Canadian companies to diversify their export markets beyond the United States. 'AltaGas provides its customers the opportunity for protection against tariff and counter-tariff impacts and ensures access to the highest priced global markets,' it said. 'As Canadian upstream production continues to grow, we believe it is critical to connect more of Canada's vital energy products to premium global markets for the benefit of all Canadians.' This report by The Canadian Press was first published June 9, 2025. Lauren Krugel, The Canadian Press
