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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 energy infrastructure company that connects natural gas and natural gas liquids (NGLs) to domestic and global markets. The Company’s segments include Utilities and Midstream. Its Utilities segment owns and operates franchised, rate-regulated natural gas distribution and storage utilities, which includes four utilities that operate across five United States jurisdictions. It Utilities segment also includes storage facilities and contracts for interstate natural gas transportation and storage services, as well as the affiliated retail energy marketing business. Its Midstream segment includes global exports, which includes its two LPG export terminals; natural gas gathering and extraction, and fractionation and liquids handling. Its Midstream segment also consists of natural gas and NGL marketing business, domestic logistics, trucking and rail terminals, and liquid storage capability. Its subsidiaries include Wrangler 1 LLC, WGL Holdings, Inc. and others.


TSX:ALA - Post by User

Comment by rfguysdon Mar 29, 2021 11:38pm
234 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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