Latest news with #AltaGas
CTV News
19 hours ago
- 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
Winnipeg Free Press
20 hours ago
- Business
- Winnipeg Free Press
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. Companies in this story: (TSX: KEY) (TSX: ALA)
Yahoo
20 hours ago
- Business
- Yahoo
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. Companies in this story: (TSX: KEY) (TSX: ALA) Lauren Krugel, The Canadian Press
Cision Canada
a day ago
- Business
- Cision Canada
ALTAGAS ANNOUNCES LONG-TERM GLOBAL EXPORTS TOLLING AGREEMENT
CALGARY, AB, June 9, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) is pleased to announce an incremental long-term tolling agreement that advances the Company's commercial de-risking and continues to reduce long-term commodity exposure across the enterprise. Keyera Corp. ("Keyera") will flow an additional 12,500 Bbls/d of liquified petroleum gases ("LPGs") through AltaGas' west coast export facilities. The incremental tolling volumes will commence in 2028, post the Keyera Fort Saskatchewan III expansion project going into service. This agreement expands on the 12,500 Bbls/d of long-term export capacity that Keyera previously contracted for and was announced in February of this year. In aggregate, Keyera will now have 25,000 Bbls/d of LPG export capacity from AltaGas' west coast facilities under 15-year tolling agreements with a growing portion of Keyera's LPGs being directed to premium downstream markets in Asia. Demand for Global Markets Access Remains Robust The importance of market diversification and the strategic advantage of AltaGas' global exports platform is being reinforced in the current market with U.S. and global tariffs creating increased market uncertainty. AltaGas provides its customers the opportunity for protection against tariff and counter-tariff impacts and ensures access to the highest priced global markets. 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. AltaGas is positioned to benefit from the long-term fundamentals of growing Canadian natural gas and natural gas liquids ("NGL") production, strong Asian demand and the Company's structural shipping advantage from the west coast. AltaGas has exceeded its long-term tolling target across its global exports portfolio and will continue to evaluate additional long-term contracts. Construction progress on the Ridley Island Energy Export Facility ("REEF") continues to progress. Uplands work is advancing with overburden removal finished and rock blasting nearing completion. Offsite fabrication is progressing according to the execution plan. Fabrication is taking place in Asia with the LPG storage vessels and bullets over 70 percent complete. Compression and refrigeration fabrication is also progressing offsite in controlled manufacturing environments, in Canada, on a modular basis. Progress on the jetty continues to accelerate and is recovering from weather-related delays experienced during the winter. Over 60 percent of total project costs are now incurred or committed, further de-risking construction execution. 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 energy infrastructure 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 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 visit or reach out to one of the following: Aaron Swanson Vice President, Investor Relations [email protected] Investor Inquiries 1-877-691-7199 Media Inquiries 1-403-206-2841 [email protected] FORWARD-LOOKING INFORMATION This news release contains forward-looking information (forward-looking statements). Words such as "guidance", "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 Company or any affiliate of the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. Specifically, such forward-looking statements included in this document include, but are not limited to, statements with respect to the following: the incremental volume of LPGs Keyera will flow through AltaGas' west coast facilities and the anticipated timing thereof; the total volume of LPG export capacity Keyera will have from AltaGas' west coast facilities; the importance of market diversification; the strategic advantage of AltaGas' global exports platform; AltaGas' ability to provide customers with protection against tariffs and counter-tariff impacts; the belief in the importance of connecting Canada's energy products to global markets and the anticipated benefits therefrom; the expectation that AltaGas will benefit from the long-term fundamentals of growing Canadian NGL production, Asian demand and AltaGas' structural shipping advantage; AltaGas' commitment to evaluating additional long-term contracts; progress on construction activity at REEF including, among other things, uplands work and rock blasting, offsite fabrication of LPG storage vessels and bullets, compression and refrigeration fabrication, and progress on the jetty; and continued de-risking of construction execution at REEF. Such statements reflect AltaGas' current expectations, estimates, and projections based on certain material factors and assumptions at the time the statement was made. Material assumptions include: effective tax rates; U.S./Canadian dollar exchange rates; inflation; interest rates, credit ratings, regulatory approvals and policies; expected commodity supply, demand and pricing; volumes and rates; propane price differentials; degree day variance from normal; pension discount rate; financing initiatives; the performance of the businesses underlying each sector; impacts of the hedging program; weather; frac spread; access to capital; future operating and capital costs; timing and receipt of regulatory approvals; seasonality; planned and unplanned plant outages; timing of in-service dates of new projects and acquisition and divestiture activities; taxes; operational expenses; returns on investments; dividend levels; and transaction costs. AltaGas' forward-looking statements are subject to certain risks and uncertainties which could cause results or events to differ from current expectations, including, without limitation: health and safety risks; operating risks; infrastructure natural gas supply risk; volume throughput; service interruptions; transportation of petroleum products; market risk; inflation; general economic conditions; cybersecurity, information, and control systems; climate-related risks; environmental regulation risks; regulatory risks; litigation; changes in law; Indigenous and treaty rights; dependence on certain partners; political uncertainty and civil unrest; risks related to conflict, including the conflicts in Eastern Europe and the Middle East; decommissioning, abandonment and reclamation costs; reputation risk; weather data; capital market and liquidity risks; interest rates; internal credit risk; foreign exchange risk; debt financing, refinancing, and debt service risk; counterparty and supplier risk; technical systems and processes incidents; growth strategy risk; construction and development; underinsured and uninsured losses; impact of competition in AltaGas' businesses; counterparty credit risk; composition risk; collateral; rep agreements; market value of the common shares and other securities; variability of dividends; potential sales of additional shares; labor relations; key personnel; risk management costs and limitations; commitments associated with regulatory approvals for the acquisition of WGL; cost of providing retirement plan benefits; failure of service providers; risks related to pandemics, epidemics or disease outbreaks and the other factors discussed under the heading "Risk Factors" in the Company's Annual Information Form (AIF) for the year ended December 31, 2024 and set out in AltaGas' other continuous disclosure documents. Many factors could cause AltaGas' or any particular business segment's actual results, performance or achievements to vary from those described in this news release, including, without limitation, those listed above and the assumptions upon which they are based proving incorrect. 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, forecasted, expected, projected or targeted and such forward-looking statements included in this news release, should not be unduly relied upon. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and AltaGas' future decisions and actions will depend on management's assessment of all information at the relevant time. 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
a day ago
- Business
- Cision Canada
Keyera Announces Sanctioning of KAPS Zone 4 and Provides Other Commercial Updates
CALGARY, AB, June 9, 2025 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera") announced today the formal sanctioning of KAPS Zone 4, a strategic extension of its integrated system. This expansion strengthens Keyera's connectivity to the growing liquids-rich Montney regions of northeast British Columbia and northwest Alberta, some of the most active and resource-rich areas in North America. "The sanctioning of KAPS Zone 4 marks another important milestone in the execution of our strategy to grow and extend our value chain," said Dean Setoguchi, President and CEO. "This project reflects strong customer demand for our fully integrated service offerings and our ability to connect to valuable end-markets. By enhancing connectivity and optionality, Zone 4 strengthens our competitive position and delivers greater value to our customers." KAPS Zone 4 is an 85-kilometre extension of the existing KAPS pipeline, connecting Pipestone to Gordondale, Alberta. It will connect to NorthRiver Midstream's Northeast BC Connector project. Together, these systems offer Montney producers a fully integrated and cost-effective route from northeast British Columbia to Fort Saskatchewan area fractionation and Keyera's industry-leading condensate hub. The capital cost of KAPS Zone 4 is expected to be $220 million (net to Keyera), which includes investments in additional pumping capacity on KAPS Zones 1 to 3. The project is targeted to enter service in mid-2027. The project is backed by long-term transportation agreements with several investment-grade Montney producers, averaging 11 years in duration and 75% take-or-pay commitments. The agreements include downstream services such as fractionation, storage, transportation, and marketing, further demonstrating the value of Keyera's integrated offering. Keyera has secured over 75,000 barrels per day of new contracted volumes across KAPS Zones 1 through 4 in recent months, with substantially all volumes also committed to incremental downstream services. Keyera's current and future fractionation capacity, which includes the Fort Saskatchewan Fractionation Unit II debottleneck and the Fort Saskatchewan Fractionation Unit III expansion project, is now substantially fully contracted, supporting strong utilization and returns across the system. Investments in Zone 4 and fractionation expansions directly contribute to the growth of Keyera's long-term, fee-for-service cash flows, supporting continued sustainable dividend growth. In response to growing volumes across Keyera's integrated system, Keyera has entered into an agreement with AltaGas to export an additional 12,500 barrels per day of natural gas liquids via AltaGas' west coast export facilities starting in 2028. This builds on the 12,500 barrels per day announced earlier this year. The agreement will further strengthen Keyera's ability to offer its customers more diversified market access for LPGs, including premium Asian markets, while providing AltaGas with long-term ratable export volumes and cash flows. About Keyera Corp. Keyera Corp. (TSX: KEY) operates an integrated Canadian-based energy infrastructure business with extensive interconnected assets and depth of expertise in delivering energy solutions. Its predominantly fee-for-service based business consists of natural gas gathering and processing; natural gas liquids processing, transportation, storage and marketing; iso-octane production and sales; and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner. Forward-Looking Statements This news release contains certain statements that constitute forward-looking information within the meaning of applicable Canadian securities legislation (collectively, "forward-looking information"). Forward-looking information is typically identified by words such as "anticipate", "expect", "may", "will", "can", "should", "would", "plan", "intend", "believe", "target", and similar words or expressions, including the negatives or variations thereof. All statements other than statements of historical fact contained in this document are forward-looking information including, without limitation, statements regarding the cost and timing of the KAPS Zone 4 project; the impact of this project on Keyera's stand-alone project return on capital target; the results of additional contracting discussions with third parties and the expected impact on future volumes on KAPS; and expectations around the impact of the agreement with AltaGas on market access. All forward-looking information is based on a number of risks, expectations, assumptions and uncertainties that Keyera has used to develop such information, but which may prove to be incorrect. Such risks, expectations, assumptions and uncertainties include, without limitation, general industry, market and economic conditions; activities of customers, producers and other facility owners; actions by joint venture partners or other partners which hold interests in certain of Keyera's assets; counterparty performance and credit risk; reliance on third parties; actions by governmental authorities; and the ability to obtain regulatory, stakeholder and third-party approvals. Further information about the factors affecting forward-looking information and management's assumptions and analysis thereof, is available in Keyera's Management's Discussion and Analysis for the year ended December 31, 2024 and in Keyera's Annual Information Form available on Keyera's profile on SEDAR+ at While Keyera believes that the expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because Keyera can give no assurance that such expectations will prove to be correct. Readers are cautioned that the foregoing list of important factors is not exhaustive, and they should not unduly rely on the forward-looking information included in this press release. Further, readers are cautioned that the forward-looking information contained herein is made as of the date of this press release. Unless required by law, Keyera does not intend and does not assume any obligation to update any forward-looking information. All forward-looking information contained in this press release is expressly qualified by this cautionary statement. Dan Cuthbertson, General Manager, Investor Relations Katie Shea, Senior Advisor, Investor Relations Email: [email protected] Telephone: 403.205.7670 Toll free: 888.699.4853 SOURCE Keyera Corp.
