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

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

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.              
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.                                         

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AltaGas Ltd.
Investment Community
AltaGas Ltd.
Idemitsu Kosan Co., Ltd.
Investment Relations
Relations Office, Treasury Department 
Idemitsu Kosan Co., Ltd.
PR section, PR&CSR Office
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