AltaGas averaged 125 Mb/d of LPG exports to Asia during Q1 2026, up 5% from a year ago, underscoring continued strength in global demand, the company said during its quarterly earnings call April 30.
The company has also expanded its shipping footprint, taking delivery of its third VLGC time charter in April, with a fourth vessel expected to join the fleet in late 2026. In addition, the expansion of its Ridley Island Export Energy Facility (REEF) is progressing toward a Q4 2026 startup and will increase export capacity by 30 Mb/d, bringing total capacity to 56 Mb/d. The project is about 75% complete, with all modules onsite and the majority fully installed (see photos below).
Following the implementation of U.S. tariffs, AltaGas said it has captured an 11% share of the Chinese LPG market, up from zero previously.
The company reported EBITDA of $818 million, a record, up 19% from the same period last year, on the stronger throughput across its midstream system.
