Project Profile
Value: Undisclosed
Location: Ferndale city, Whatcom county, south of Vancouver, Washington, United States of America (USA)
Area: unknown
Capacity: up to 30,000 barrels a day of LPG
Start-up Year: -
Petrogas Energy Corp. has entered into a binding agreement with Chevron USA Inc. (\"Chevron\") for the purchase of Chevron\'s Ferndale, Washington storage and distribution facility for bulk shipments of propane, butane and iso-butane (collectively \"LPG\"). The transaction price is confidential and the purchase is subject to usual government and regulatory body approvals with a closing date expected to be on March 31, 2014. The Ferndale Terminal acquisition provides a strong fit for AltaGas Ltd. (\"AltaGas\") and Idemitsu Kosan Co. Ltd. (\"Idemitsu\"), who recently acquired interests in Petrogas, providing AltaGas with direct offtake for their proprietary production and for Idemitsu to acquire North American LPG for its LPG sales and distribution infrastructure in Japan as well as its other interests in southeast Asia.
The Ferndale Terminal is located in Ferndale city, Whatcom County, south of Vancouver, Washington,USA and has the capability to handle exports and imports of up to 30,000 barrels a day of LPG and has facilities to handle and supply propane to the regional market for US domestic consumption. The Ferndale Terminal has rail, truck and pipeline capability and is connected to two local refineries offering LPG balancing services.
Operators:
Petrogas Energy Corp.: Operator with 100% interest