Calgary’s Petrogas buys Wash. state gas terminal from Chevron
Ferndale, Wash., facility will give Petrogas ability to move bulk shipments of gas off Pacific coast
CALGARY—Petrogas Energy Corp. has put pen to paper on a deal with Chevron USA Inc. to buy a gas distribution facility in Washington state.
The Calgary-based company said it agreed to terms of a deal with Chevron to buy its Ferndale, Wash., facility that will give Petrogas the ability to move bulk shipments of propane, butane and iso-butane off the Pacific coast of the United States.
Financial terms of the deal were not disclosed.
Equipped with rail, truck and pipeline access, and connected to two local refineries, the facility can handle volumes of as much as 30,000 barrels a day and has the capability to supply propane to the regional market for U.S. consumption.
The company also said the terminal provides “a strong fit” for AltaGas Ltd. and Idemitsu Kosan Co. Ltd., which both bought stakes in Petrogas in September 2013.
The facility is about an hour south of Vancouver.