Overview of AltaGas
AltaGas, a Canadian corporation, is a leading North American clean energy infrastructure company with strong growth opportunities and a focus on owning and operating assets to provide clean and affordable energy to its customers.
AltaGas has three business segments:
- Gas, which transacts more than 3 Bcf/d of natural gas and includes natural gas gathering and processing, natural gas liquids (NGL) extraction and fractionation, transmission, storage, natural gas and NGL marketing. AltaGas is uniquely positioned to provide producers with an opportunity to move natural gas and natural gas liquids to new premium markets in Asia through the Ridley Island Propane Export Terminal currently under construction, and through its ownership interest in Petrogas and the Ferndale Terminal. Through the WGL acquisition AltaGas acquired interests in four regulated pipelines in the Marcellus/Utica gas formation in the northeastern United States, as well as a gas supply agreement associated with the Cove Point LNG Terminal which began exporting LNG this year.
- Utilities, which, after the close of the AltaGas Canada Inc. initial public offering, serves approximately 1.6 million customers1 with a rate base of approximately $4.4 billion through ownership of regulated natural gas distribution utilities across five jurisdictions in the United States, and a regulated natural gas storage utility in the United States, delivering clean and affordable natural gas to homes and businesses. The Utilities business also includes storage facilities and contracts to interstate natural gas transportation and storage services; and
- Power, which, after the close of the AltaGas Canada Inc. initial public offering includes 1,931 MW of gross capacity from natural gas-fired, hydro, wind, biomass, solar, other distributed generation and energy storage assets located in two provinces in Canada, and 20 states and the District of Columbia in the United States. The Power business also includes energy efficiency contracting and WGL’s retail power marketing business.
Today, our business has an enterprise value of over $17 billion that includes clean energy infrastructure assets, and highly contracted assets that provide long-term, stable cash flow.
The Corporation’s long-term strategy is to grow in attractive areas and maintain a long-term, balanced mix of stable, low risk energy assets across its Gas, Utility and Power business segments. Our focus is on owning and operating these assets to provide clean and affordable energy to our customers.
On July 6, 2018 AltaGas acquired WGL Holdings Inc. (“WGL”) a diversified energy infrastructure company and sole owner of Washington Gas Light Company, a regulated natural gas utility headquartered in Washington D.C., serving approximately 1.2 million customers in Maryland, Virginia and Washington, D.C. WGL also has a growing natural gas midstream business and contracted clean power assets.
AltaGas has a talented workforce of approximately 3,000 people.
1 Including transportation and non-regulated business lines.