Trigon Pacific Terminals announced on Wednesday a new $750 million open-access liquefied petroleum gas export facility with a capacity of 2.5 million metric tons per year at Prince Rupert, Canada.
The export facility is expected to begin operations by late 2029, subject to securing legal and regulatory approvals.
Critical infrastructure for the facility is already in advanced stages of readiness, with rail access to the site and berth loading facilities ready for integration, the company said.
“We have some of the largest reserves of natural gas and natural gas liquids in the world and are working hard to meet the growing demand of our partners in Japan, Korea and Asia,” said Brian Jean, Alberta minister of energy and minerals.
The new infrastructure addresses a pressing need for Canadian energy producers who have faced significant challenges accessing export markets, the company says.
(Reporting by Sarah Qureshi in Bengaluru; Editing by Lisa Shumaker)