Profile: AGL Resources Inc (GAS)

GAS on New York Consolidated

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4 May 2015
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AGL Resources Inc. (AGL Resources), incorporated on November 27, is an energy services holding company whose principal business is the distribution of natural gas. AGL Resources operates its natural gas in seven states, which includes Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee and Maryland. As of December 31, 2013, the Company’s seven utilities served approximately 4.5 million customers. It is involved in several related and complementary businesses.

The Company operates in five operating segments: distribution operations, retail operations, wholesale services, midstream operations, cargo shipping and one non-operating segment-other. AGL Resources’s retail operations segment serves more than one million retail customers and markets natural gas and related home services to customers in Georgia, Illinois, Ohio, Florida and New York. The Company’s wholesale services segment engages in asset management and optimization, storage, transportation, producer and peaking services and wholesale marketing of natural gas across the U.S. and Canada. Its midstream operations segment provides natural gas storage arbitrage and related activities and engages in the development and operation of high-deliverability natural gas storage assets. Cargo shipping segment transports containerized cargo between Florida, the eastern coast of Canada, the Bahamas and the Caribbean region.

Distribution Operations

The Company’s distribution operations segment includes seven natural gas local distribution utilities. These utilities construct, manage and maintain intrastate natural gas pipelines and distribution facilities and include Nicor Gas in Illinois, Atlanta Gas Light Company (Atlanta Gas Light) in Georgia, Virginia Natural Gas, Inc. (Virginia Natural Gas) in Virginia, Elizabethtown Gas in New Jersey, Florida City Gas in Florida, Chattanooga Gas Company (Chattanooga Gas) in Tennessee and Elkton Gas in Maryland.

Retail Operations

The Company’s retail operations segment markets natural gas and related home services, such as appliance repair and line protection plans to customers primarily in its utility service areas, but also in areas outside of its utility service areas. This segment also offers products that provide product protection and comfort services and natural gas and utility bill management services. These companies include SouthStar Energy Services LLC (SouthStar), Nicor Advanced Energy, Nicor Solutions, LLC (Nicor Solutions) and Pivotal Home Solutions.

Wholesale Services

The Company’s wholesale services segment consists of its wholly owned subsidiaries Sequent Energy Management, L.P. (Sequent) and Nicor Enerchange. The wholesale services utilizes a portfolio of natural gas storage assets, contracted supply from all of the major producing regions, as well as contracted storage and transportation to provide these services to its customers, consisting primarily of electric and natural gas utilities, power generators and large industrial customers.

Midstream Operations

The Company’s midstream operations segment includes a number of businesses that are related and complementary to its primary business. These businesses are its natural gas storage business, which develops, acquires and operates underground natural gas storage assets primarily in the Gulf Coast region of the United States and in Northern California. This segment consists of the following companies: Golden Triangle Storage, Inc. (Golden Triangle Storage), Central Valley Gas Storage, LLC (Central Valley), Jefferson Island Storage & Hub, LLC (Jefferson Island Storage & Hub) and Pivotal LNG

Cargo Shipping

The primary activity is transporting containerized cargo in the Bahamas and the Caribbean. The Company’s cargo shipping segment consists of Tropical Shipping, multiple wholly owned foreign subsidiaries of Tropical Shipping. The Company’s cargo shipping segment also includes Triton, a full-service global leasing company and an owner-lessor of marine intermodal cargo containers and Seven Seas, a Florida based domestic insurance corporation that provides cargo insurance policies mainly between Tropical Shipping and its customers.

Other

The Company’s other segment includes its non-operating business units. AGL Services Company is a service company, which provides certain centralized shared services to its operating segments. AGL Capital Corporation (AGL Capital), the Company’s wholly owned finance subsidiary, provides for its ongoing financing needs through a commercial paper program, the issuance of various debt and hybrid securities, and other financing arrangements.

Company Address

AGL Resources Inc

10 Peachtree Pl NE
ATLANTA   GA   30309-4497
P: +1404.5844000
F: +1404.5843945

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