Sequent Energy Management Selected as Asset Manager for New England Gas
January 22, 2007
HOUSTON – Jan. 22, 2007 – Sequent Energy Management, a wholly owned subsidiary of AGL Resources, has been selected as asset manager for New England Gas, which serves more than 50,000 residential and commercial customers in Massachusetts.
“We are pleased that Sequent is serving as our new asset manager,” said David Kirkland, Director of Gas Supply for New England Gas Company “We find their approach to be very thorough and have confidence in the entire Sequent team.”
The one-year contract, which began Nov. 1, 2006, calls for full asset management and the sale of additional natural gas supplies. Under the agreement, Sequent supplies all gas requirements above and beyond New England Gas’ pre-existing supply contracts. Sequent also manages and schedules all necessary natural gas deliveries to the New England Gas city gate in Massachusetts by directing the utilization of New England Gas’ contracted assets, which include more than 45,000 MMBtu per day of interstate pipeline transportation and 1 Bcf of natural gas storage.
“We are excited New England Gas chose Sequent to serve as their asset manager,” said Noel Bartlo, lead negotiator for Sequent. “With our knowledgeable staff, refined systems and strong market presence, we can move natural gas very efficiently and reliably. We look forward to working with New England Gas to optimize their natural gas portfolio.”
New England Gas Company, headquartered in Fall River, Mass., serves over 50,000 residential and commercial customers in Massachusetts. It is a division of Southern Union Company, headquartered in Houston, which is one of the nation's leading diversified natural gas companies, engaged primarily in the transportation, storage, gathering, processing and distribution of natural gas. The company owns and operates the nation's second-largest natural gas pipeline system with more than 22,000 miles of gathering and transportation pipelines and one of North America's largest liquefied natural gas import terminals.
About Sequent Energy Management
Sequent Energy Management, a wholly owned subsidiary of AGL Resources Inc. (NYSE: ATG), is a Houston-based entity focusing on asset management and optimization, producer services, wholesale marketing and risk management. For more information, visit http://www.sequentenergy.com/.
About AGL Resources
AGL Resources (NYSE: ATG), an Atlanta-based energy services holding company, serves 2.2 million customers in six states through its utility subsidiaries - Atlanta Gas Light, Elizabethtown Gas in New Jersey, Virginia Natural Gas, Florida City Gas, Chattanooga Gas, and Elkton Gas in Maryland. Ranked by Forbes as one of the 10 Best Managed Utilities and No. 226 in the Forbes Platinum 400 as well as 647 on the Fortune 1000 and number 40 in the Fortune gas and electric utilities sector in 2006, AGL Resources reported revenue of $2.7 billion and net income of $193 million in 2005. The company also owns Houston-based Sequent Energy Management, an asset manager serving natural gas wholesale customers throughout the East and Midwest. As a 70 percent owner in the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. AGL Networks, the company's telecommunications subsidiary, owns and operates fiber optic networks in Atlanta and Phoenix. The company also owns and operates Pivotal Jefferson Island Storage & Hub, a high-deliverability natural gas storage facility near the Henry Hub in Louisiana. For more information, visit http://www.aglresources.com/.