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AltaGas Ltd T.ALA

Alternate Symbol(s):  ATGFF | T.ALA.PR.A | ATGPF | T.ALA.PR.B | T.ALA.PR.G | ATGAF

AltaGas Ltd. is a Canada-based infrastructure company that connects natural gas and natural gas liquids (NGLs) to domestic and global markets. Its segments include Utilities and Midstream. Utilities owns and operates franchised, cost-of-service, rate-regulated natural gas distribution and storage utilities, which includes two utilities that operate across four United States jurisdictions. The Utilities business also includes other storage facilities and contracts for interstate natural gas transportation and storage services, as well as WGL Energy Services, Inc., which sells natural gas and electricity. Midstream is a North American platform that connects customers and markets from wellhead to tidewater. The three pillars of the Midstream business include global exports, which includes its two operational Liquified Petroleum Gas (LPG) export terminals and one prospective development terminal; natural gas gathering, processing and extraction, and fractionation and liquids handling.


TSX:ALA - Post by User

Comment by rfguysdon Mar 29, 2021 11:38pm
238 Views
Post# 32904051

RE:RE:RE:Partial fills at RIPET

RE:RE:RE:Partial fills at RIPETGunnerG:  all good points.  Perhaps the question is why would Altagas schedule  2 LPG tankers  to arrive roughly at the same time?

Working from one of the suggestions that Altagas ran out of storage for propane in mid Jan, I seem to recall  Q4-2020 having difficulties “with 3rd party deliveries of propane”.  Does that ring a bell? Suppose that the railcar issue was resolved and CNR delivered all the backlog railcars to RIPET within a short time period of in late DEC20 and early Jan21.

RIPET Propane Storage is 100,000m3 or 630,000 bbls propane.  The storage is only enough to fill one LPG vessel.   Altagas needed to find storage or all the railcars would be backed up and unloaded till the RIPET storage was relieved by an incoming vessel.  Altagas quickly realized the issue and ordered an early vessel   to arrive at RIPET (Legend)  to  act  as  a “refrigerated storage tank”  until the railcar backup  diminished.  Of course, the extra port fees , tugboat fees would be re-imbursed by CNR   since  it was their issue to begin with.

Might be a good call by Altagas.

GLTA
RFguy.

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Also an interesting story.

Keeping cold in our tank or on their ship, making room in our storage tank while waiting for the second ship to arrive, added cost of tugs; all add to the story. 

Unwise to anchor with 1/2 load?  They do this all the time when offloading at different locations. Care to enlighten on the dangers of 12 load in port.

Flip a coin I guess.

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