AltaGas Ltd. and Keyera Corp. have announced a strategic partnership to increase the export of Canadian energy products to Asian markets. The agreement includes a 15-year tolling contract for LPG export capacity at AltaGas' REEF facility and an 18-year agreement for fractionation capacity at Keyera's Fort Saskatchewan facility. The partnership will also grant AltaGas access to Keyera's rail, storage, and logistics infrastructure.
CALGARY — AltaGas Ltd. and Keyera Corp. have entered into a strategic partnership to facilitate the export of Canadian energy products to Asian markets. Under the terms of the agreement, Keyera has committed to a 15-year tolling contract for 12,500 barrels per day of liquefied petroleum gas ( LPG ) export capacity at AltaGas' Ridley Island Energy Export Facility (REEF). This facility, slated for completion towards the end of 2026, will significantly bolster Canada's LPG export capabilities.
The contract complements Keyera's existing LPG export operations through AltaGas' Ridley Island Propane Export Terminal, further solidifying the partnership's impact on the Canadian energy sector. AltaGas has announced that, with this new contract added to previously secured agreements, it has reached its target for long-term tolling commitments for the REEF project.In a reciprocal move, AltaGas has secured an 18-year agreement for 8,000 barrels per day of fractionation capacity at Keyera's facility in Fort Saskatchewan, Alberta. This agreement will provide AltaGas with crucial downstream processing capabilities, enhancing its ability to handle and refine Canadian energy products. Furthermore, AltaGas has entered into a comprehensive services agreement granting it access to Keyera's extensive rail, storage, and logistics infrastructure. This strategic move will streamline AltaGas' supply chain operations and optimize its transportation logistics. Keyera anticipates that the agreement will contribute significantly to its growth plans at Fort Saskatchewan, including the expansion of its fractionation unit. This expansion project will further enhance Keyera's processing capacity and solidify its position as a leading player in the Canadian energy market.This collaborative partnership between AltaGas and Keyera underscores the growing importance of Canada's energy exports, particularly to the rapidly developing Asian markets. The agreement is expected to create new opportunities for Canadian energy producers, stimulate economic growth, and strengthen Canada's position as a reliable energy supplier on the global stage
CANADIAN ENERGY EXPORT ASIA PARTNERSHIP LPG
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