AltaGas Ltd.
TypePublic
TSX: ALA
IndustryGas Utilities
Petroleum Industry
FoundedApril 1, 1994
HeadquartersCalgary, Alberta, Canada
Areas served
Canada
United States
Key people
  • Pentti Karkkainen
    Chairman of the Board
  • Vern Yu
    Chief Executive Officer
ProductsElectricity generation, natural gas
RevenueIncrease Can$14.09 Billion (2022)[1]
Increase Can$840 Million (2019)[1]
Total assetsIncrease Can$23.97 Billion (2022)[1]
Total equityDecrease Can$7.37 Billion (2019)[1]
Number of employees
2,801 [1]
SubsidiariesWGL Holdings
Websitewww.altagas.ca

AltaGas is a North American energy infrastructure company based in Calgary, Alberta. It links natural gas liquids (NGLs) and natural gas to both Canadian and global markets.[2] The company operates in four business segments: utilities, midstream, power and corporate.[3]

History

AltaGas began operations in Calgary in 1994 in the natural gas business, with the goal of building a western Canadian midstream business. The company later began its utility segment in 1998 in Alberta, and entered the power business in 2001.

In 2017, AltaGas agreed to purchase WGL Holdings, significantly expanding its presence in the United States.[4]

Operations

Utilities

AltaGas operates regulated utilities that store and deliver natural gas to end‑users across North America. The utility businesses serve approximately 1.8 million customers. The company operates as Washington Gas in the Washington metropolitan area, SEMCO Energy Gas Company in Michigan, ENSTAR Natural Gas Company in Alaska, and Heritage Gas in Nova Scotia.

Midstream

The Midstream segment serves customers primarily in the Western Canadian Sedimentary Basin and transacts more than 2 billion cubic feet (57 million cubic metres) per day of natural gas. It transfers gas to its customers from wellhead to tidewater and beyond.[2] The Midstream segment expanded its customer base in 2011 after its purchase of Pacific Northern Gas Ltd for $146.1 million.[5] The acquisition was part of the move to capitalize on increased exploration activity in western Canada.[5] The division serves many purposes including natural gas gathering and processing, natural gas liquids extraction and separation, transmission pipelines delivery for both gas and liquids, storage and marketing.[6] As part of its Midstream expansion strategy, AltaGas concluded a deal with Birchcliff Energy for a long-term natural gas processing arrangement in 2018.[7] It also entered into a joint venture with a privately held producer in the Montney shale play to construct a deep-cut natural gas processing facility.[8][9]

References

  1. 1 2 3 4 5 "Financial Highlights | AltaGas". www.altagas.ca.
  2. 1 2 "ATGFF - AltaGas Ltd Company Profile - CNNMoney.com". money.cnn.com. Retrieved 2022-07-12.
  3. ↑ "The Globe and Mail - Altagas". The Globe and Mail. Archived from the original on 2018-11-01.
  4. ↑ "AltaGas to buy WGL Holdings for $4.5-billion in major U.S. push". Retrieved 2018-04-27.
  5. 1 2 "UPDATE 2-AltaGas to buy Pacific Northern for C$145 mln plus debt". Reuters. 2011-10-31. Retrieved 2022-07-12.
  6. ↑ "Royal Bank of Canada Raises Secure Energy Services (TSE:SES) Price Target to C$9.00". April 30, 2022.
  7. ↑ "Birchcliff and AltaGas enter long-term processing arrangement". Offshore Technology. 2018-04-05. Retrieved 2022-07-12.
  8. ↑ "BRIEF-AltaGas advances its midstream strategy". Reuters. 2017-01-23. Retrieved 2022-07-12.
  9. ↑ "Canada's AltaGas to jointly build natgas processing plant". www.gasprocessingnews.com. Retrieved 2022-07-12.
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