Profile: AGL Resources Inc (GAS)

GAS on New York Consolidated

27 Nov 2015
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AGL Resources Inc. (AGL Resources), incorporated on November 27, 1995, is an energy services holding company engaged in the distribution of natural gas. The Company is involved in several related and complementary businesses. The Company operates in four operating segments: distribution operations, retail operations, wholesale services and midstream operations. The Company’s distribution operations segment is engaged in providing natural gas to residential, commercial and industrial customers. The retail operations segment is involved in the provision of natural gas commodity and related services. The wholesale services segment is engaged in natural gas storage, gas pipeline arbitrage and provides natural gas asset management and related logistics services for its utilities, as well as for non-affiliated companies. Midstream operations segment consists primarily of natural gas storage facilities and select pipelines, enabling the provision of diverse sources of natural gas supplies to its customers. AGL Resources operates its natural gas in seven states, including Illinois, Georgia, Virginia, New Jersey, Florida, Tennessee and Maryland. As of December 31, 2014, the Company’s seven utilities served 4.5 million customers.

Distribution Operations

The Company’s distribution operations segment is engaged in the operation, construction and maintenance of around 80,700 miles of natural gas pipeline and 14 storage facilities. It also includes seven natural gas local distribution utilities. The Company’s utilities, which construct, manage and maintain intrastate natural gas pipelines and distribution facilities include Northern Illinois Gas Company (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 in Tennessee and Elkton Gas in Maryland.

Retail Operations

The Company’s retail operations segment markets natural gas and related home services to approximately 628,000 natural gas commodity customers and has around 1.2 million service contracts. The Company’s retail operations segment operates through the following companies: SouthStar Energy Services LLC (SouthStar) and Nicor Energy Services Company (doing business as Pivotal Home Solutions). SouthStar, a joint venture owned 85% by the Company and 15% by Piedmont Natural Gas Company, Inc., is a United States-based natural gas marketer. SouthStar markets natural gas to residential, commercial and industrial customers, primarily in Georgia and Illinois. SouthStar also offers its customers energy-related products for natural gas price stability and utility bill management. Pivotal Home Solutions provides a suite of home protection products and services that offer homeowners additional financial stability regarding their energy service delivery, systems and appliances. It offers a line of customizable home warranty and energy efficiency plans that can be co-branded with utility and energy companies. Pivotal Home Solutions serves customers primarily Illinois, Indiana and Ohio.

Wholesale Services

The Company’s wholesale services segment serves a variety of customers in the natural gas value chain with operations structured to optimize storage and transportation portfolios under a range of market conditions through the use of hedging tools. It consists of the operations of its wholly owned subsidiary, Sequent Energy Management, L.P. (Sequent), which is engaged in asset management and optimization, storage, transportation, production and peaking services and wholesale marketing of natural gas across the United States and Canada. Wholesale services segment utilizes a portfolio of natural gas storage assets, contracted supply from a number of producing regions, as well as contracted storage and transportation capacity to provide these services to its customers. Its customers consist primarily of electric and natural gas utilities, power generators and industrial customers.

Midstream Operations

The Company’s midstream operations segment includes 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. Jefferson Island Storage & Hub operates a storage facility in Louisiana consisting of two salt dome gas storage caverns. Golden Triangle Storage operates a storage facility in Texas consisting of two salt dome caverns. Central Valley operates a depleted field storage facility in California. In addition, the Company has an LNG facility in Alabama that produces LNG for Pivotal LNG, a wholly owned subsidiary, to support its business of selling LNG as a substitute fuel in various markets.

The Company’s other activities include the operations of other subsidiaries, which include AGL Services Company, a service company it established to provide certain centralized shared services to its operating segments, and AGL Capital Corporation (AGL Capital), which 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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