AltaGas

{{Short description|Canadian energy infrastructure comp9}} {{Infobox company | name = AltaGas Ltd. | logo = AltaGas_Logo.png | type = Public | traded_as = {{TSX|ALA}} | foundation = April 1, 1994 | location = Calgary, Alberta, Canada | areas_served = Canada United States | key_people = * '''Pentti Karkkainen''' ''Chairman of the Board'' * '''Vern Yu''' ''Chief Executive Officer'' | industry = Gas Utilities Petroleum Industry | products = Electricity generation, natural gas | revenue = {{increase}} Can$14.09 Billion (2022)<ref name=results>{{Cite web|url=https://www.altagas.ca/invest/financials/financial-highlights|title=Financial Highlights | AltaGas|website=www.altagas.ca}}</ref> | net_income = {{increase}} Can$840 Million (2019)<ref name=results /> | assets = {{increase}} Can$23.97 Billion (2022)<ref name=results /> | equity = {{decrease}} Can$7.37 Billion (2019)<ref name=results /> | num_employees = 2,801 <ref name=results /> | subsid = WGL Holdings | homepage = {{URL|http://www.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.<ref name=":0">{{Cite web |title=ATGFF - AltaGas Ltd Company Profile - CNNMoney.com |url=https://money.cnn.com/quote/profile/profile.html?symb=ATGFF |archive-url=https://web.archive.org/web/20220712004640/https://money.cnn.com/quote/profile/profile.html?symb=ATGFF |url-status=dead |archive-date=July 12, 2022 |access-date=2022-07-12 |website=money.cnn.com}}</ref> The company operates in four business segments: utilities, midstream, power and corporate.<ref>{{Cite web|title=The Globe and Mail - Altagas|url=https://www.theglobeandmail.com/investing/markets/stocks/ALA-T/|url-status=live|website=The Globe and Mail|archive-url=https://web.archive.org/web/20181101202028/https://www.theglobeandmail.com/investing/markets/stocks/ALA-T/ |archive-date=2018-11-01 }}</ref>

==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.<ref>{{Cite news|url=https://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/altagas-to-buy-wgl-holdings-for-45-billion-in-major-us-push/article33766030/|title=AltaGas to buy WGL Holdings for $4.5-billion in major U.S. push|access-date=2018-04-27}}</ref>

==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 and SEMCO Energy Gas Company in Michigan.

===Midstream=== The Midstream segment serves customers primarily in the Western Canadian Sedimentary Basin and transacts more than {{convert|2|e9ft3|e6m3|abbr=off|lk=on}} per day of natural gas. It transfers gas to its customers from wellhead to tidewater and beyond.<ref name=":0" /> The Midstream segment expanded its customer base in 2011 after its purchase of Pacific Northern Gas Ltd for $146.1 million.<ref name=":1">{{Cite news |date=2011-10-31 |title=UPDATE 2-AltaGas to buy Pacific Northern for C$145 mln plus debt |language=en |work=Reuters |url=https://www.reuters.com/article/pacificnorthern-altagas-idUSL4E7LV20K20111031 |access-date=2022-07-12}}</ref> The acquisition was part of the move to capitalize on increased exploration activity in western Canada.<ref name=":1" /> 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.<ref>{{Cite web|url=https://www.defenseworld.net/2022/04/30/royal-bank-of-canada-raises-secure-energy-services-tseses-price-target-to-c9-00.html|title=Royal Bank of Canada Raises Secure Energy Services (TSE:SES) Price Target to C$9.00|date=April 30, 2022}}</ref> As part of its Midstream expansion strategy, AltaGas concluded a deal with Birchcliff Energy for a long-term natural gas processing arrangement in 2018.<ref>{{Cite web |date=2018-04-05 |title=Birchcliff and AltaGas enter long-term processing arrangement |url=https://www.offshore-technology.com/news/birchcliff-altagas-enter-long-term-processing-arrangement/ |access-date=2022-07-12 |website=Offshore Technology |language=en-US}}</ref> 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.<ref>{{Cite news |date=2017-01-23 |title=BRIEF-AltaGas advances its midstream strategy |language=en |work=Reuters |url=https://www.reuters.com/article/idINFWN1FD0JM |access-date=2022-07-12}}</ref><ref>{{Cite web |title=Canada's AltaGas to jointly build natgas processing plant |url=http://www.gasprocessingnews.com/news/canadas-altagas-to-jointly-build-natgas-processing-plant.aspx |access-date=2022-07-12 |website=www.gasprocessingnews.com}}</ref>

==References== {{Reflist}}

Category:Companies listed on the Toronto Stock Exchange Category:Energy companies established in 1994 Category:Companies based in Calgary Category:Energy companies of Canada Category:Natural gas companies of Canada