The Ridley Island Energy Export Facility, located on Ridley Island, British Columbia, Canada, is a large-scale coastal terminal with the capability to export liquified petroleum gases (LPGs), methanol, and other bulk liquids. It is a joint venture between AltaGas and Royal Vopak; FID was reached in May 2024.

Following FID, the JV has the option to progress evaluation work on fuels such as hydrogen.

In October 2023, AltaGas entered a five-year transportation agreement with Canadian National Railway Company. As of May 2024, the JV has completed all major gating items, including FEED and a Class III capital estimate. Site clearing work is more than 95% complete and with required permits in hand, the project is expected to come online near 2026 year-end. Projected gross JV capital cost is $1.35bn, excluding governmental incentives and support, with annual partnership EBITDA of $185m – $215m.

The JV expects to lock-in more than 60 percent of the Phase 1 capital costs through fixed-price, lump-sum engineering, procurement and fabrication contracts prior to construction. Vopak and AltaGas expect to fund their 50 percent pro-rata ownership through each company’s respective financial capacity with no leverage at the partnership level.