Ferndale butane-propane export terminal sold

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News,Business

FERNDALE, Wash. (AP) — Chevron sold a butane-propane export terminal near Ferndale to Calgary, Alberta, based Petrogas Energy Corp. for $242 million.

The 42-acre property sits next to Alcoa's Intalco Works aluminum smelter and receives butane and propane from Whatcom County oil refineries and also by rail.

Petrogas CEO Stan Owerko told The Bellingham Herald (http://bit.ly/1nljhcR) it sees a strong market for propane and butane exports to Asia and South America.

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Information from: The Bellingham Herald, http://www.bellinghamherald.com

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