AltaGas Value Proposition
Battle of the Barrels Leaves Asian Tolling as Clear Winner
RIPET Tolling has Averaged ~US$4/Bbl Netback Premium Over Conway Over the Past Two Years
Excess Canadian propane and butane that is available for exports at Fort Saskatchewan A has two options -
going to Asia B via rail and AltaGas global exports or going to the Southern U.S. (Conway or Mt Belvieu)
via rail.
FEI Index less all-in costs
(export toll, rail, opex and
maritime shipping)
B
Notes: *See "Forward-looking Information"
AltaGas
AltaGas
Asia Tolling
B
+
AltaGas
Southern
U.S. Exports
AltaGas RIPET Tolling has averaged ~US$4/Bbl stronger all-in netbacks
for shippers compared to sending to Conway Cover the past two years.
Currently US$7/Bbl better on forward indicative year.
AltaGas RIPET tolling
has provided
~ US$4/Bbl
Better propane netbacks
vs. Conway the past two years.
AltaGas
AltaGas RIPET
Points of Export
AltaGas
AltaGas Ferndale
Local Alberta Pricing
(No Liquid Index)
A Fort Sask, AB
Liquid U.S.
LPG Markets
CWY or MTB
Index less all-in
rail transport costs
C
Conway, KS
RIPET Asian Tolling at Structural Advantage Relative to Conway or Belvieu
Mount Belvieu, TX
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