AltaGas Ltd. and Idemitsu Kosan Co. Ltd. announced that the companies have signed an agreement to form the AltaGas Idemitsu Joint Venture Limited Partnership. The Partnership plans to pursue opportunities involving exports of liquefied petroleum gas and liquefied natural gas from Canada to Asia.

AltaGas and Idemitsu will each own a 50% interest in the Partnership. 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.