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Long-term debt (Tables) | 12 Months Ended
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Dec. 31, 2020
Financial Instruments [Abstract] |
Schedule of long-term debt |
As at | Dec 31 2020 | Dec 31 2019 |
Unsecured notes |  |  |
(i) $250 million at 5.25% due March 1, 2022 | — |  | 248,912 |  |
(ii) $300 million at 4.25% due December 1, 2024 | 297,999 |  | 297,607 |  |
(iii) $700 million at 5.125% due October 15, 2027 | 691,434 |  | — |  |
(iv) $700 million at 5.25% due December 15, 2029 | 694,282 |  | 693,822 |  |
(v) $300 million at 5.65% due December 1, 2044 | 295,410 |  | 295,321 |  |
| 1,979,125 |  | 1,535,662 |  |
Geismar 3 construction facility at LIBOR+3% | 176,335 |  | — |  |
Egypt limited recourse debt facilities | 46,948 |  | 75,165 |  |
Other limited recourse debt facilities |  |  |
(i) LIBOR+0.75% to LIBOR+2.5% due through 2019 to 2021 | — |  | 1,526 |  |
(ii) 5.58% due through June 30, 2031 | 69,734 |  | 73,700 |  |
(iii) 5.35% due through September 30, 2033 | 78,391 |  | 82,800 |  |
(iv) 5.08% due through September 15, 2036 | 12,839 |  | — |  |
| 160,964 |  | 158,026 |  |
Total long-term debt 1 | 2,363,372 |  | 1,768,853 |  |
Less current maturities 1 | (39,771) |  | (38,420) |  |
| $ | 2,323,601 |  | $ | 1,730,433 |  |
1 Long-term debt and current maturities are presented net of discounts and deferred financing fees of $25.4 million as at December 31, 2020 (2019 - $20.4 million).
Schedule of minimum principal payments for long-term debt | The gross minimum principal payments for long-term debt in aggregate and for each of the five succeeding years are as follows:
| Egypt limited recourse debt facilities | Other limited recourse debt facilities | Unsecured notes | Construction Facility 1 | Total
2021 | $ | 31,552 | $ | 8,824 | $ | — |  | $ | — |  | $ | 40,376
2022 | 16,606 | 11,778 | — |  | — |  | 28,384
2023 | — |  | 12,424 | — |  | — |  | 12,424
2024 | — |  | 12,576 | 300,000 |  | 173,000 |  | 485,576
2025 | — |  | 13,654 | — |  | — |  | 13,654
Thereafter | — |  | 105,002 | 1,700,000 |  | — |  | 1,805,002
| $ | 48,158 |  | $ | 164,258 | $ | 2,000,000 |  | $ | 173,000 |  | $ | 2,385,416
1 Balance in long-term debt exceeds the principal payments by $3.3 million due the treatment for modification of interest terms.
Disclosure of debt covenants | The impact on the remaining periods for which the waivers apply is as follows:
Four quarters ended | Minimum interest coverage ratio 2 | Minimum EBITDA 1 2
Q4 2020 | not applicable | $25 million
Q1 2021 | not applicable | $30 million
Q2 2021 | not applicable | $70 million
Q3 2021 | 1.00x | not applicable
Q4 2021 | 1.25x | not applicable
Q1 2022 & thereafter | 2.00x | not applicable
1 EBITDA is defined under the terms of the credit facilities. 2 The minimum EBITDA or minimum interest coverage ratio provision may be fully waived for any two of the remaining measurement periods until Q4 2021.

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