06:57 AM EST, 12/24/2024 (MT Newswires) -- AltaGas ( ATGFF ) late on Monday provided a year-end update on global exports tolling and commercial contracting activities.

In December, the company executed commercial contracts that will provide long-term liquified petroleum gas (LPG) supply and tolling contracts for its global exports' platform.

Some of the contracts are set to take effect in 2027, with LPG volumes to be added to Canadian supply. Other contracts will take near-term effect with export volumes initially flowing through the Ridely Island propane export terminal (RIPET) and moving to the Ridely Island energy export facility (REEF) once it comes online.

AltaGas ( ATGFF ) expects it will be positioned to achieve its long-term REEF contracting targets in early 2025.

The advantage of RIPET for Canadian producers to export to Asia for about US$8 per barrel higher than selling domestically or to major U.S. LPG markets.