AltaGas Ltd. (TSX:ALA, TSX:ALA.PR.A, TSX:ALA.PR.U) announced that they have entered into a partnership with Japanese company Idemitsu Kosan Co.,Ltd to seek opportunities involving exports of LPG and LNG from Canada to Asia
As quoted in the press release:
The Partnership plans to pursue opportunities to develop long-term natural gas supply and sales arrangements to meet the growing demand for natural gas in Asia. As Asia’s largest LNG consumer, Japan would benefit from a new and dependable source of LNG from the Partnership. LNG from Canada would provide a clean, stable, and reliable source of energy to meet Japan’s growing demand for natural gas. The development of a Canadian LNG export opportunity would also provide long-term benefits to Canadians at a time when Canada is seeking to diversify its energy markets.
AltaGas’ Chairman and CEO, David Cornhill, said:
We are excited to partner with Idemitsu, a global leader in the supply of energy, petroleum, lubricants and petrochemical products and services to the people of Japan. Idemitsu has a proud heritage of creating value for the benefit of Japan and the societies, consumers and communities in which they operate.