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Canada/Japan: Gas firms link to buy more of Petrogas

 |  October 27, 2013

Canada-based AltaGas announced plans to up its stake in Petrogas Energy Corp. to one-third, a deal made with AltaGas’s Japan-based partner, say reports.

Along with Tokyo’s Idemitsu Kosan, AltaGas will up its stake in Petrogas from its current 25 percent, a deal that will exports of propane and liquefied natural gas from Asia to Canada. Idemitsu Kosan did not say whether it helped pay for the joint venture.

AltaGas announced earlier this year the acquisition of 25 percent in Petrogas, though financial details of the deal were not disclosed. This time, AltaGas said its stake increase would cost about $440 million.

Full content: Calgary Herald

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