Astomos Energy Corp News

AltaGas says it will proceed with construction of Canada’s first West Coast propane export facility. It has federal approval and long-term commercial agreements in hand. The Ridley Export Terminal, located at Prince Rupert, B.C., will be designed to ship 1.2 million tonnes of propane per year and is estimated to cost approximately $450 - $500 million, the company says. The terminal, near Prince Rupert, will cut shipping distances to Asian markets to 10 days from 25 compared the U.S. Gulf Coast, the company says. The project is expected to create 200 to 250 construction jobs and about 40 to 50 permanent jobs once operational. “This export facility is another promising development for our province, connecting producers in northeast B.C. to markets in Asia,” said B.C.

Japanese Astomos Energy Corp. has announced that it has signed a cooperation agreement with ENEOS Globe Corp. aimed at merging the two companies' gas fleets, thereby creating a new giant in the booming tanker market. The two partners will tap opportunities to best create an effective combined fleet focusing on import and export liquefied petroleum gas (LPG). A merger of the two companies would create a new giant with a fleet of 30 of the major VLGC gas carriers in the already densely packed LPG market, where the main competitors include, among others BW Gas, Dorian LPG, Avance Gas and Danish Hafnia Tankers. In addition, according to an official confirmed the bilateral cooperation including LPG import and trade cooperation, specific issues are still under negotiation.

Tokyo-based Astomos Energy Corp has placed an order today with Mitsubishi Heavy Industries (MHI) for a very large liquefied petroleum gas (LPG) carrier. The 83,000 cu m vessel marks their fourth such order with MHI since 2013, a company that also happens to be a 49 percent shareholder in Astomos Energy. Construction, as with the three previously ordered vessels, will be carried out at MHI's Nagasaki Shipyard & Machinery Works. The carrier will provide the world's highest level of energy-saving performance, flexibility to accommodate major LPG terminals around the globe, and specifications suited to passage through the newly expanding Panama Canal.

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order for a very large liquefied petroleum gas (LPG) carrier able to navigate the Panama Canal from Astomos Energy Corp. The vessel is to feature MHI's world-class energy efficiency and outstanding versatility enabling it to flexibly accommodate the requirements of major LPG terminals. Completion and delivery are scheduled for the second half of 2015. The LPG carrier is to be built at MHI's Nagasaki Shipyard & Machinery Works…