AltaGas and Idemitsu have signed an agreement to form the AltaGas Idemitsu Joint Venture Limited Partnership. The Partnership plans to pursue opportunities involving exports of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) from Canada to Asia. AltaGas and Idemitsu will each own a 50% interest in the Partnership.
The partners will undertake feasibility studies for the development and construction of liquefaction facilities as part of the proposed project to export LNG and LPG to markets in Asia. The feasibility study is expected to be completed by early 2014 for LNG (2013 for LPG). The pipeline capacity required to transport natural gas to the liquefaction facility is expected to be provided by AltaGas' wholly owned subsidiary Pacific Northern Gas. Subject to consultations with First Nations, and the completion of the feasibility study, permitting, regulatory approvals and facility construction, the proposed LNG exports could begin as early as 2017; proposed LPG export business could begin as early as 2016.
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