CN, AltaGas ink long-term transportation pact

CN yesterday announced a renewed and expanded five-year transportation agreement with AltaGas.

The agreement strengthens CN's exclusive access to the Port of Prince Rupert in British Columbia, CN officials said in a press release.

For rail customers seeking to expand business, the port offers reduced port congestion, state-of-the-art export and import terminals, and materially shorter transit times to key markets, CN officials said.

"By selling into our capacity and taking advantage of our unique network reach, we are confident in our ability to accelerate sustainable, profitable growth," said CN President and CEO Tracy Robinson.

Added AtlaGas President and CEO Vern Yu: "The agreement provides AltaGas and our customers with cost and service predictability to continue to support ongoing resource development across Western Canada and provide our key downstream customers with energy security to support economic activity and fuel everyday life."