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VOPAK AND ALTAGAS FORM A NEW JOINT VENTURE FOR LARGE-SCALE LPG AND BULK LIQUIDS EXPORT TERMINAL IN PRINCE RUPERT, CANADA
VOPAK AND ALTAGAS FORM A NEW JOINT VENTURE FOR LARGE-SCALE LPG AND BULK LIQUIDS EXPORT TERMINAL I...
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[{"type":"text","content":"\n \n \n \n VOPAK AND ALTAGAS FORM A NEW JOINT VENTURE FOR LARGE-SCALE LPG AND BULK LIQUIDS EXPORT TERMINAL IN PRINCE RUPERT, CANADA\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n The Project Would Further Strengthen Canadian and Asia Pacific Energy Connectivity, Improve Global Energy Security, and Deliver Positive Outcomes for All Stakeholders\n \n \n \n \n \n ROTTERDAM, The Netherlands\n \n ,\n \n CALGARY, AB\n \n and\n \n PRINCE RUPERT, BC\n \n \n ,\n \n \n April 26, 2023\n \n \n /CNW/ -\n \n \n 26 April 2023\n \n - 07:05 Central European Summer Time /\n \n 25 April 2023\n \n -\n \n 11:05pm Mountain Standard Time\n \n \n \n \n \n Royal Vopak (\"Vopak\")\n \n (XAMS: VPK)\n \n and AltaGas Ltd. (\"AltaGas\")\n \n (TSX: ALA) are pleased to announce the execution of definitive agreements for a new 50/50 joint venture to further evaluate development of the Ridley Island Energy Export Facility (REEF), a large-scale liquefied petroleum gas (LPG) and bulk liquids terminal with marine infrastructure on\n \n Ridley Island\n \n ,\n \n British Columbia, Canada\n \n .\n \n \n REEF, as part of the previously submitted regulatory filings (under the name of Vopak Pacific Canada), will have the capability to facilitate the export of LPGs, methanol, and other bulk liquids that are vital for everyday life. REEF has been granted the key Federal and Provincial permits to construct storage tanks, a new dedicated jetty, and rail and other ancillary infrastructure required to operate a state-of-the-art and highly efficient facility. REEF would be developed on a 190-acre (77 hectare) site on lands administered by the Prince Rupert Port Authority for which the joint venture has executed a long-term lease that sits adjacent to AltaGas and Vopak's existing Ridley Island Propane Export Terminal (RIPET), which has been in operation since\n \n April 2019\n \n .\n \n \n Should REEF reach a positive final investment decision (FID), it is planned to be developed and brought online in phases. This approach will provide the most capital efficient build out of...