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PAA Natural Gas Storage L.P. (PNG)
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PNG funeral home 'burns bodies in pit'
Sydney Morning Herald  3 hrs ago  Comment 
A funeral home in PNG has been accused of burning unclaimed bodies - including dead babies.     
PNG barge overturns near Port Moresby
Sydney Morning Herald  5 hrs ago  Comment 
A sea rescue is underway in Papua New Guniea after a barge overturned north of the capital Port Moresby in the early hours of Thursday.     
Newcrest downgrade worries PNG
The Australian  Jun 11  Comment 
NEWCREST'S downgrade has prompted PNG's Prime Minister to raise concerns the company's problems could affect the nation's economy.
O'Neill scores a win in Ok Tedi battle
The Australian  Jun 5  Comment 
PNG's Prime Minister Peter O'Neill has won a crucial round in his battle for control of the country's biggest mine at Ok Tedi.
Robust growth keeping PNG stable
The Australian  Jun 2  Comment 
MOODY'S ratings agency has maintained its outlook on Papua New Guinea as stable, despite the government's massive budget.
PNG PM launches defamation proceedings
Sydney Morning Herald  May 30  Comment 
Papua New Guinea Prime Minister Peter O'Neill has filed a writ of summons in a defamation case against Opposition Leader Belden Namah.     
PNG move on death penalty raises concerns for asylum seekers
Sydney Morning Herald  May 29  Comment 
Asylum seekers on Manus Island will be subject to the death penalty, the department of immigration has confirmed.     
PNG reinstates death penalty after gruesome sorcery killings, rapes
Reuters  May 29  Comment 
Papua New Guinea has reinstated the death penalty and repealed controversial sorcery laws after a string of gruesome "witch" killings and gang-rapes, with capital punishment to be used for some corruption cases and possibly even growing...
PNG parliament passes use of death penalty
Sydney Morning Herald  May 28  Comment 
Papua New Guinea's parliament has passed tough new anti-crime measures, from the death penalty for rape, robbery and murder, to five methods of execution.     
Cheap PNG labour tempts Exxon
The Australian  May 27  Comment 
EXXON Mobil may more than double the size of its $16.5bn PNG liquefied natural gas plant amid concerns about Australian labour laws.




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Caleb Li

PAA Natural Gas Storage L.P. (PNG) (NYSE:PNG) operates and manages natural gas storage facilities. The company has doubled its storage facilities since 2005, having 40 Bcf as of 31 December 2009. It plans to increase total capacity by 70% to reach a total of 68 Bcf. The company sells its space to customers for a fee. [1]

The company has a contractual relationship with its customers. If there was increased competition in the space or expenses and costs rose, the company would have less cash flow. It faces the risk of not being able to pay the minimum distribution to common shareholders, general partner, and Series A shareholders. [1]

The company's initial public offering of stock filed on the NYSE exchange on 25 January 2010. The proposed offer price range is $20.00-$20.00. The company is offering 10 million shares and raising $200 million. [1]

In FY2009 with year ended 31 December 2009, the company reported $72.2 million in total revenue, up 46.7% from $49.2 million in total revenue for FY2008. Furthermore, the company had $24.0 million in net income for FY2009, up 22.4% from $19.6 million in net income for FY2008. [1]

References

  1. ↑ 1.0 1.1 1.2 1.3 PAA Nautlra GAs Storage L.P. S-1/A
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