AltaGas partner Idemitsu shelves work on Triton liquefied natural gas project

CALGARY – AltaGas Ltd’s joint venture partner, Idemitsu Kosan Co., says it has stopped work on the Triton liquefied natural gas project in northern British Columbia.

The Japanese conglomerate says in its annual results issued Tuesday that it had suspended all efforts to export LNG from North America.

AltaGas’s director of finance and communications says that the news doesn’t change anything for the company since AltaGas had put Triton on the back burner more than a year ago.

Jess Nieukerk says AltaGas had been focused on the smaller scale Douglas Channel LNG project that also falls under the joint venture, although it had also suspended work on that project in February due to poor market conditions.

The joint venture partners had expected Triton to export about 2.3 million tonnes of LNG a year to Asia, while the Douglas Channel project was designed as a 550,000 tonne a year floating LNG project near Kitimat, B.C.

Idemitsu, meanwhile, says it will try to increase exports of propane from the Ferndale terminal in Washington state to Japan through the Petrogas Energy Corp that it controls with AltaGas.