AltaGas to acquire the remaining 25.97% stake in Petrogas Energy from Idemitsu Canada for $221m.

AltaGas, a North American energy infrastructure business, agreed to acquire the remaining 25.97% stake in Petrogas Energy, a supplier and marketer of oil and natural gas, from Idemitsu Canada, an integrated energy company, for $221m. "We are excited to take full ownership of Petrogas. This transaction provides us the ability to further integrate and optimize our industry leading west coast export platform, solidifying our position as the leading provider of North American Liquified Petroleum Gases from the west coast. The transaction clearly demonstrates our ability to recycle capital into strategic growth opportunities and ensures that AltaGas is well-positioned to connect domestic customers with global markets in the most efficient manner. We will continue to develop the Petrogas assets and leverage its port and tidewater access to meet our domestic customers with global customers' needs, including various energy transition opportunities that are aligned with North America and Asia's long-term lower-carbon focus," Randy Crawford, AltaGas President and CEO.