Royal Vopak and AltaGas Ltd. Have entered into a joint venture and will invest together in the development of the Ridley Island Propane Export Terminal (RIPET). RIPET is expected to be the first propane export facility off the west coast of Canada. The project is to be designed to ship 1.2 million metric tons of propane per year, with approximately 96,000 cubic meters of storage capacity. The facility is expected to be commissioned in Q1 2019.
The RIPET site is near Prince Rupert, British Columbia, on a section of land leased by Ridley Terminals Inc. from the Prince Rupert Port Authority. The site has a locational advantage given very short shipping distances to markets in Asia, notably a 10-day shipping time compared to 25 days from the U.S. Gulf Coast. The brownfield site also benefits from railway access and ample deepwater access to the Pacific Ocean, which is icefree year-round.
For more information, visit www.Vopak.com or www.altagas.ca.
