Welcome!

Big Data Journal Authors: Michelle Drolet, Kevin Benedict, Pat Romanski, Elizabeth White, Paige Leidig

News Feed Item

AltaGas Ltd. and Idemitsu Kosan Co., Ltd. Form Partnership to Pursue Opportunities to Export Energy From Canada

CALGARY, ALBERTA -- (Marketwire) -- 01/29/13 --

AltaGas Ltd. ("AltaGas") (TSX:ALA) (TSX:ALA.PR.A) (TSX:ALA.PR.U) and Idemitsu Kosan Co.,Ltd. ("Idemitsu") (Tokyo Stock Exchange: 5019) today announced that the companies have signed an agreement to form the AltaGas Idemitsu Joint Venture Limited Partnership ("Partnership"). The Partnership plans to pursue opportunities involving exports of liquefied petroleum gas ("LPG") and liquefied natural gas ("LNG") from Canada to Asia. AltaGas and Idemitsu will each own a 50 percent interest in the Partnership.

"We are excited to partner with Idemitsu, a global leader in the supply of energy, petroleum, lubricants and petrochemical products and services to the people of Japan. Idemitsu has a proud heritage of creating value for the benefit of Japan and the societies, consumers and communities in which they operate", said David Cornhill, Chairman and CEO of AltaGas. "We are pleased to work with Idemitsu to develop opportunities that will be good for the people of Japan and Canada. As we move forward, we will continue in our commitment to engage and work effectively with Governments, First Nations, and other stakeholders."

"Canada is one of the world's most resource-rich countries and has proven to be a very promising new supplier of gas to Japan. As a leading energy infrastructure company in Canada, AltaGas has enjoyed rapid and sustainable growth in its natural gas infrastructure, power generation, and natural gas distribution businesses. The Partnership with AltaGas is a natural fit with Idemitsu's gas and power business. AltaGas is simply the best strategic partner for us in terms of both existing business and potential opportunities, and we have great expectations and enjoyment in our collaborative discussions with this rapidly growing company. We believe that a joint venture with AltaGas will enhance the businesses of both companies while making a significant contribution to the national interests of both Canada and Japan." said Mr. Kazuhisa Nakano, President of Idemitsu Kosan Co., Ltd.

The Partnership plans to pursue opportunities to develop long-term natural gas supply and sales arrangements to meet the growing demand for natural gas in Asia. As Asia's largest LNG consumer, Japan would benefit from a new and dependable source of LNG from the Partnership. LNG from Canada would provide a clean, stable, and reliable source of energy to meet Japan's growing demand for natural gas. The development of a Canadian LNG export opportunity would also provide long-term benefits to Canadians at a time when Canada is seeking to diversify its energy markets.

The Partnership will undertake feasibility studies for the development and construction of liquefaction facilities as part of the proposed project to export LNG to markets in Asia. The feasibility study is expected to be completed by early 2014. The pipeline capacity required to transport natural gas to the liquefaction facility is expected to be provided by AltaGas' wholly owned subsidiary Pacific Northern Gas Ltd. Subject to consultations with First Nations, and the completion of the feasibility study, permitting, regulatory approvals and facility construction, the proposed LNG exports could begin as early as 2017.

The Partnership also plans to pursue opportunities to develop a LPG export business, including logistics, plant refrigeration and storage facilities. The feasibility study is expected to be completed in 2013. Idemitsu is a shareholder of Astomos Energy Corporation, one of the world's largest LPG suppliers. Subject to consultations with First Nations, and the completion of the feasibility study, permitting, regulatory approvals and facility construction, the proposed LPG export business could begin as early as 2016.

The Partnership will also evaluate additional opportunities to own and operate infrastructure assets for other energy businesses in North America and to supply energy from North America to Japan and other growing countries in Asia. These opportunities are expected to develop over time as AltaGas and Idemitsu work together to create value for their shareholders and the communities in which they operate.


Company Profiles                                                            
----------------------------------------------------------------------------
Company Name    AltaGas Ltd.                                                
----------------------------------------------------------------------------
Location        1700, 355 - 4th Avenue, S.W. Calgary, Alberta T2P 0J1 CANADA
----------------------------------------------------------------------------
Representative  David W. Cornhill                                           
----------------------------------------------------------------------------
Established     April 1,1994                                                
----------------------------------------------------------------------------
                Energy infrastructure business with a focus on natural gas, 
Business        power and regulated utilities. AltaGas creates value by     
Description     acquiring, growing and optimizing its energy infrastructure,
                including a focus on renewable energy sources.              
----------------------------------------------------------------------------
Website         http://www.altagas.ca/.                                     
----------------------------------------------------------------------------
                                                                            
Company Name    Idemitsu Kosan Co.,Ltd.                                     
----------------------------------------------------------------------------
Location        3-1-1 Marunouchi, Chiyoda-ku, Tokyo, JAPAN                  
----------------------------------------------------------------------------
Representative  Kazuhisa Nakano                                             
----------------------------------------------------------------------------
Established     March 30, 1940                                              
----------------------------------------------------------------------------
                Petroleum refining and manufacture and sale of oil products 
Business        manufacture and sale of petrochemical products, E&P of      
Description     petroleum and coal.                                         
----------------------------------------------------------------------------
Website         www.idemitsu.com                                            
----------------------------------------------------------------------------

This news release contains forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to AltaGas or an affiliate of AltaGas, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect AltaGas' current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in AltaGas' public disclosure documents. Many factors could cause AltaGas' actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release as intended, planned, anticipated, believed, sought, proposed, estimated or expected, and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. AltaGas does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Contacts:
AltaGas Ltd.
Investment Community
1-877-691-7199
investor.relations@altagas.ca

AltaGas Ltd.
Media
403-691-9873
media.relations@altagas.ca

Idemitsu Kosan Co., Ltd.
Investment Relations
+81-3-3213-9307
Relations Office, Treasury Department

Idemitsu Kosan Co., Ltd.
Media
+81-3-3213-3115
PR section, PR&CSR Office

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Cloud Expo Breaking News
Cloud backup and recovery services are critical to safeguarding an organization’s data and ensuring business continuity when technical failures and outages occur. With so many choices, how do you find the right provider for your specific needs? In his session at 14th Cloud Expo, Daniel Jacobson, Technology Manager at BUMI, will outline the key factors including backup configurations, proactive monitoring, data restoration, disaster recovery drills, security, compliance and data center resources. Aside from the technical considerations, the secret sauce in identifying the best vendor is the level of focus, expertise and specialization of their engineering team and support group, and how they monitor your day-to-day backups, provide recommendations, and guide you through restores when necessary.
SYS-CON Events announced today that SherWeb, a long-time leading provider of cloud services and Microsoft's 2013 World Hosting Partner of the Year, will exhibit at SYS-CON's 14th International Cloud Expo®, which will take place on June 10–12, 2014, at the Javits Center in New York City, New York. A worldwide hosted services leader ranking in the prestigious North American Deloitte Technology Fast 500TM, and Microsoft's 2013 World Hosting Partner of the Year, SherWeb provides competitive cloud solutions to businesses and partners around the world. Founded in 1998, SherWeb is a privately owned company headquartered in Quebec, Canada. Its service portfolio includes Microsoft Exchange, SharePoint, Lync, Dynamics CRM and more.
The world of cloud and application development is not just for the hardened developer these days. In their session at 14th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, and Harold Hannon, Sr. Software Architect at SoftLayer, will pull back the curtain of the architecture of a fun demo application purpose-built for the cloud. They will focus on demonstrating how they leveraged compute, storage, messaging, and other cloud elements hosted at SoftLayer to lower the effort and difficulty of putting together a useful application. This will be an active demonstration and review of simple command-line tools and resources, so don’t be afraid if you are not a seasoned developer.
You use an agile process; your goal is to make your organization more agile. What about your data infrastructure? The truth is, today’s databases are anything but agile – they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver on new features and capabilities needed to make your organization competitive. As your application and business needs change, data repositories and structures get outmoded rapidly, resulting in increased work for application developers and slow performance for end users. Further, as data sizes grow into the Big Data realm, this problem is exacerbated and becomes even more difficult to address. A seemingly simple schema change can take hours (or more) to perform, and as requirements evolve the disconnect between existing data structures and actual needs diverge.
Cloud scalability and performance should be at the heart of every successful Internet venture. The infrastructure needs to be resilient, flexible, and fast – it’s best not to get caught thinking about architecture until the middle of an emergency, when it's too late. In his interactive, no-holds-barred session at 14th Cloud Expo, Phil Jackson, Development Community Advocate for SoftLayer, will dive into how to design and build-out the right cloud infrastructure.
SYS-CON Events announced today that BUMI, a premium managed service provider specializing in data backup and recovery, will exhibit at SYS-CON's 14th International Cloud Expo®, which will take place on June 10–12, 2014, at the Javits Center in New York City, New York. Manhattan-based BUMI (Backup My Info!) is a premium managed service provider specializing in data backup and recovery. Founded in 2002, the company’s Here, There and Everywhere data backup and recovery solutions are utilized by more than 500 businesses. BUMI clients include professional service organizations such as banking, financial, insurance, accounting, hedge funds and law firms. The company is known for its relentless passion for customer service and support, and has won numerous awards, including Customer Service Provider of the Year and 10 Best Companies to Work For.
Chief Security Officers (CSO), CIOs and IT Directors are all concerned with providing a secure environment from which their business can innovate and customers can safely consume without the fear of Distributed Denial of Service attacks. To be successful in today's hyper-connected world, the enterprise needs to leverage the capabilities of the web and be ready to innovate without fear of DDoS attacks, concerns about application security and other threats. Organizations face great risk from increasingly frequent and sophisticated attempts to render web properties unavailable, and steal intellectual property or personally identifiable information. Layered security best practices extend security beyond the data center, delivering DDoS protection and maintaining site performance in the face of fast-changing threats.
From data center to cloud to the network. In his session at 3rd SDDC Expo, Raul Martynek, CEO of Net Access, will identify the challenges facing both data center providers and enterprise IT as they relate to cross-platform automation. He will then provide insight into designing, building, securing and managing the technology as an integrated service offering. Topics covered include: High-density data center design Network (and SDN) integration and automation Cloud (and hosting) infrastructure considerations Monitoring and security Management approaches Self-service and automation
In his session at 14th Cloud Expo, David Holmes, Vice President at OutSystems, will demonstrate the immense power that lives at the intersection of mobile apps and cloud application platforms. Attendees will participate in a live demonstration – an enterprise mobile app will be built and changed before their eyes – on their own devices. David Holmes brings over 20 years of high-tech marketing leadership to OutSystems. Prior to joining OutSystems, he was VP of Global Marketing for Damballa, a leading provider of network security solutions. Previously, he was SVP of Global Marketing for Jacada where his branding and positioning expertise helped drive the company from start-up days to a $55 million initial public offering on Nasdaq.
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 14th Cloud Expo, Marc Jones, Vice President of Product Innovation for SoftLayer, will explain how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
Are you interested in accelerating innovation, simplifying deployments, reducing complexity, and lowering development costs? The cloud is changing the face of application development and deployment, with enterprise-grade infrastructure and platform services making it possible for you to build and rapidly scale enterprise applications. In his session at 14th Cloud Expo, Gene Eun, Sr. Director, Oracle Cloud at Oracle, will discuss the latest solutions and strategies for application developers and enterprise IT organizations to leverage Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) to build and deploy modern business applications in the cloud.
Hybrid cloud refers to the federation of a public and private cloud environment for the purpose of extending the elastic and flexibility of compute, storage and network capabilities, in an on-demand, pay-as-you go basis. The hybrid approach allows a business to take advantage of the scalability and cost-effectiveness that a public cloud computing environment offers without exposing mission-critical applications and data to third-party vulnerabilities. Hybrid cloud environments involve complex management challenges. First, organizations struggle to maintain control over the resources that lie outside of their managed IT scope. They also need greater infrastructure visibility to help reduce maintenance costs and ensure that their company data and resources are properly handled and secured.
As more applications and services move "to the cloud" (public or on-premise), cloud environments are increasingly adopting and building out traditional enterprise features. This in turn is enabling and encouraging cloud adoption from enterprise users. In many ways the definition is blurring as features like continuous operation, geo-distribution or on-demand capacity become the norm. At NuoDB we're involved in both building enterprise software and using enterprise cloud capabilities. In his session at 14th Cloud Expo, Seth Proctor, CTO of NuoDB, Inc., will cover experiences from building, deploying and using enterprise services and suggest some ways to approach moving enterprise applications into a cloud model.
Understanding the future of Big Data is crucial in the early stages of decision making around Big Data architectures. In the enterprise, what stands out is the need to integrate Hadoop smoothly into your existing data warehouse architecture, while taking advantage of existing skills and investments. In his General Session at 14th Cloud Expo, Marty Gubar, Director of Product Management at Oracle, will present a strategy for enabling integrated data management using both Hadoop and relational technologies. In particular, he'll look at how SQL, long the standard for the data warehouse, is increasingly being used on Hadoop. The real prize, though, is Smart SQL processing, seamlessly integrating the data warehouse and Hadoop into a single, Big Data Management System.
The time has come for humanity’s first interstellar trek to Terranuvem, the cloud planet, and Chief Engineer Cyrus Agarwal has been chosen to ready a ship for the voyage. He must make the right architectural choices to transform the ship for the long journey and be prepared for the unknown. He will be tested and overcome challenges during the mission. Join Cyrus and the crew of the Stratus at Oracle VP Rex Wang’s Day 2 Keynote at 14th Cloud Expo for a unique, sci-fi movie experience while learning key success factors for your own journey to cloud.