Topic: How To Invest

Stock Pickers Digest Hotline – Friday, June 21, 2019

Article Excerpt

ALTAGAS LTD., $19.81, symbol ALA on Toronto, processes, transports, stores and markets natural gas for producers. The company also operates natural gas utilities; and it is a power generator, with gas-fired, coal-fired, wind, biomass and hydroelectric plants. AltaGas recently opened Canada’s first marine propane export terminal. The first shipment of propane headed for Asia left the Prince Rupert, B.C. facility on May 23, 2019. The complex is a joint venture between AltaGas (70%) and a Canadian subsidiary of Netherlands-based Royal Vopak (30%). In 2017, AltaGas entered a multi-year agreement with Astomos Energy Corporation, a Japanese propane importer and distributor, to purchase at least 50% of the propane shipped annually from the Ridley Island Propane Export Facility. The $500 million facility provides producers and customers with a significant geographic advantage given comparatively short shipping distances to markets in Asia—notably a 10-day shipping time from Canada’s West Coast compared to 25 days from the U.S. Gulf Coast. Pressurized propane from B.C. and Alberta will be transported to the…

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