Latest news with #AltaGas'
Fibre2Fashion
7 days ago
- Business
- Fibre2Fashion
BASF & AltaGas sign butane deal via REEF on Ridley Island
BASF Intertrade AG ("BASF") and AltaGas Ltd. ("AltaGas") (TSX: ALA) have signed a long-term commercial agreement for supply of butane via AltaGas and Royal Vopak's ("Vopak") (XAMS: VPK) Ridley Island Energy Export Facility ("REEF") commencing in 2027. REEF is a large-scale, open access liquefied petroleum gas and bulk liquids terminal with comprehensive rail and marine infrastructure currently under construction on Ridley Island, British Columbia, Canada. REEF is expected to be completed by 2026 year-end. Agreement Diversifies BASF's Supply and Strengthens its Cracker Feedstock Supply Portfolio BASF and AltaGas have signed a long-term agreement for butane supply via the Ridley Island Energy Export Facility, starting in 2027. The deal provides BASF with reliable Western Canadian feedstock for its Asian operations, diversifies its cracker feedstock portfolio, and strengthens AltaGas' export platform with a high-quality, investment-grade counterparty. The agreement will provide BASF with access to competitive and reliable butane from Western Canada, which will be used mainly as feedstock for BASF's growing production footprint in Asia. This partnership will diversify BASF's cracker feedstock portfolio and strengthen the link between Canada, as one of the world's largest energy producing regions, and Asia, one of the fastest growing demand regions globally. The agreement will provide shorter lead times and reliable shipping deliveries to Asia. "This agreement marks a significant step in strengthening BASF's global feedstock supply portfolio," says Matthias Dohrn, President Global Procurement at BASF and Chairman of the Supervisory Board of BASF Intertrade AG . "By partnering with AltaGas, we are not only securing reliable and competitive access to butane from Western Canada, but also reinforcing our commitment to supply chain diversification and resilience. AltaGas brings expertise and a strong infrastructure platform to the table, and we look forward to our collaboration to support our growth in Asia." Further De-risk AltaGas' Export Platform This agreement, which AltaGas had previously announced as part of its first quarter 2025 results, represents another positive step in de-risking its global exports operations. The contract diversifies AltaGas' downstream customer base with the addition of BASF, which is an A-rated investment grade counterparty with broad global operations and strong long-term growth plans. BASF joins AltaGas' broad customer base of more than 70 Canadian producers and aggregators and Asian downstream customers that utilize AltaGas' open access export terminals to facilitate the best outcomes for their businesses. The agreement is expected to commence in 2027 and reinforces the strategic value of AltaGas' west coast LPG export platform. "We are excited to deepen our relationship with BASF and play a key role in helping the company deliver on their long-term growth objectives," said Vern Yu, President and Chief Executive Officer of AltaGas . "This agreement is further recognition of our structural advantage of exporting LPGs to Asia from the North American west coast. The addition of a high-quality counterparty such as BASF further de-risks our export platform, advancing our strategic priorities." Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
Cision Canada
23-07-2025
- Business
- Cision Canada
BASF AND ALTAGAS SIGN LONG-TERM BUTANE SUPPLY AGREEMENT
ZUG, Switzerland and CALGARY, AB, July 23, 2025 /CNW/ - BASF Intertrade AG ("BASF") and AltaGas Ltd. ("AltaGas") (TSX: ALA) have signed a long-term commercial agreement for supply of butane via AltaGas and Royal Vopak's ("Vopak") (XAMS: VPK) Ridley Island Energy Export Facility ("REEF") commencing in 2027. REEF is a large-scale, open access liquefied petroleum gas and bulk liquids terminal with comprehensive rail and marine infrastructure currently under construction on Ridley Island, British Columbia, Canada. REEF is expected to be completed by 2026 year-end. Agreement Diversifies BASF's Supply and Strengthens its Cracker Feedstock Supply Portfolio The agreement will provide BASF with access to competitive and reliable butane from Western Canada, which will be used mainly as feedstock for BASF's growing production footprint in Asia. This partnership will diversify BASF's cracker feedstock portfolio and strengthen the link between Canada, as one of the world's largest energy producing regions, and Asia, one of the fastest growing demand regions globally. The agreement will provide shorter lead times and reliable shipping deliveries to Asia. "This agreement marks a significant step in strengthening BASF's global feedstock supply portfolio," says Matthias Dohrn, President Global Procurement at BASF and Chairman of the Supervisory Board of BASF Intertrade AG. "By partnering with AltaGas, we are not only securing reliable and competitive access to butane from Western Canada, but also reinforcing our commitment to supply chain diversification and resilience. AltaGas brings expertise and a strong infrastructure platform to the table, and we look forward to our collaboration to support our growth in Asia." Further De-risk AltaGas' Export Platform This agreement, which AltaGas had previously announced as part of its first quarter 2025 results, represents another positive step in de-risking its global exports operations. The contract diversifies AltaGas' downstream customer base with the addition of BASF, which is an A-rated investment grade counterparty with broad global operations and strong long-term growth plans. BASF joins AltaGas' broad customer base of more than 70 Canadian producers and aggregators and Asian downstream customers that utilize AltaGas' open access export terminals to facilitate the best outcomes for their businesses. The agreement is expected to commence in 2027 and reinforces the strategic value of AltaGas' west coast LPG export platform. "We are excited to deepen our relationship with BASF and play a key role in helping the company deliver on their long-term growth objectives," said Vern Yu, President and Chief Executive Officer of AltaGas. "This agreement is further recognition of our structural advantage of exporting LPGs to Asia from the North American west coast. The addition of a high-quality counterparty such as BASF further de-risks our export platform, advancing our strategic priorities." About BASF Intertrade BASF Intertrade AG is the global trading organization of the BASF Group, specializing in the trade of petroleum, petrochemicals, and related products. Headquartered in Zug, Switzerland, the company also maintains offices in Singapore, Shanghai, and Houston. About BASF At BASF, we create chemistry for a sustainable future. Our ambition: We want to be the preferred chemical company to enable our customers' green transformation. We combine economic success with environmental protection and social responsibility. Around 112,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises, as core businesses, the segments Chemicals, Materials, Industrial Solutions, and Nutrition & Care; our standalone businesses are bundled in the segments Surface Technologies and Agricultural Solutions. BASF generated sales of €65.3 billion in 2024. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at 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, lower-risk, high-growth Utilities and Midstream 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 open-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 please contact: AltaGas: Jon Morrison, Senior Vice President, Corporate Development and Investor Relations ([email protected]) or Aaron Swanson, Vice President, Investor Relations ([email protected]) BASF: Dagmar Lonien, Head of Communications, Global Procurement ([email protected]) FORWARD-LOOKING INFORMATION BASF: This release contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward-looking statements contained in this release above and beyond the legal requirements. AltaGas This news release contains forward-looking information (forward-looking statements). Words such as"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 Corporation or any affiliate of the Corporation, are intended to identify forward-looking statements. In particular, this news release contains forward- looking statements with respect to, among other things, the anticipated benefits of the long-term commercial agreement, including, among other things, providing competitive and reliable butane feedstock to BASF, strengthening the link between Canada and Asia, providing shorter lead times and reliable shipping deliveries to Asia and de-risking AltaGas' global export operations; the expected commencement date of butane supply pursuant to the agreement; construction progress and the anticipated in-service date of REEF; and the anticipated benefits of REEF. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, the failure to realize the anticipated benefits of the long-term commercial agreement; changes in market, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. 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 or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. 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
04-07-2025
- Business
- Cision Canada
ALTAGAS TO ISSUE SECOND QUARTER 2025 RESULTS
CALGARY, AB, July 4, 2025 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) will release its second quarter 2025 results on Friday, August 1, 2025, before market open. A conference call and webcast will be held the same day to discuss the financial results and other corporate developments. Conference Call and Webcast Details: Date: Friday, August 1, 2025 Time: 9:00 a.m. MT (11:00 a.m. ET) Webcast: Dial-in (Audio only): +1 437 900 0527 or toll free at +1 888 510 2154 Shortly after the conclusion of the call a replay will be available on the Company's website or by dialing +1 289 819 1450 or toll free +1 888 660 6345. Passcode 73282#. 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, lower-risk, high-growth energy infrastructure business that is focused on delivering stable and growing value for its stakeholders. For more information visit or reach out to one of the following: Investor Inquiries 1-877-691-7199 [email protected] Media Inquiries 1-403-206-2841 [email protected] FORWARD-LOOKING INFORMATION This news release contains forward-looking statements. When used in this news release, the word "will" and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, timing of release of financial results, conference call and webcast, replay and archiving. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. 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 or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. 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. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Cision Canada
09-06-2025
- 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.
Reuters
07-02-2025
- Business
- Reuters
Canada's AltaGas and Keyera agree long-term LPG processing deals
Feb 7 (Reuters) - Canada-based energy infrastructure firm AltaGas ( opens new tab and pipeline operator Keyera ( opens new tab entered into long-term agreements for processing liquefied petroleum gases (LPGs) on Friday. Keyera entered a 15-year tolling contract at AltaGas' Ridley Island Energy Export Facility for 12,500 barrels per day (bpd) of LPG export capacity. In turn, AltaGas signed an 18-year agreement for 8,000 bpd of fractionation capacity at Keyera's natural gas liquids (NGLs) processing and storage facility in Saskatchewan. U.S. President Donald Trump imposed and later suspended tariffs on Canadian goods, including a 10% levy on energy imports. As a result, Canadian companies are looking to reduce dependence on the U.S. by looking towards other markets such as those in Asia. AltaGas' Ridley export facility is expected to be operational by the end of 2026, with the company saying that it requires only ten shipping days to export to the LPG markets in Northeast Asia. The 18-year fractionation contract, which includes processing of NGLs to be produced at AltaGas' Pipestone II plant in Alberta, will provide long-term capacity for AltaGas' production in Montney shale. "These agreements strengthen the long-term growth and predictability of cash flows for both companies and strengthens Canada's link into key Asian markets," said Vern Yu, President and CEO of AltaGas. Tolling is a service contract where one company agrees to pay a fee or toll to another to process raw materials into finished product. Fractionation is used to seperate raw natural gas into individual substances such as methane, ethane, propane, butane and natural gasoline. "We see the announcement as slightly positive for both companies' share prices, with the arrangements allowing each party to lever off the other's infrastructure, and underpin their respective growth projects with long-term contracts for the projects' capacities," RBC Capital Markets analyst Maurice Choy said.
