AGL Resources
From Wikipedia, the free encyclopedia
| AGL Resources | |
|---|---|
 |
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| Type | Public (NYSE: ATG) |
| Founded | |
| Headquarters | Atlanta, Georgia, USA |
| Key people | John W. Somerhalder I President and CEO |
| Industry | Natural gas |
| Net income | $193 million (2005) |
| Website | www.aglresources.com |
AGL Resources, Inc. is a Fortune 1000, Forbes 2000 energy services holding company. Their principal business is distribution of natural gas in Florida, Georgia, Maryland, New Jersey, Tennessee and Virginia, providing gas for more than 2.2 million customers.
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[edit] Distribution operations
Six utility companies provide local gas distribution to more than 2.2 million customers in Georgia, New Jersey, Virginia, Florida, Tennessee and Maryland.
Each subsidiary provides these primary services:
- Maintains the gas pipeline infrastructure
- Responds to and repairs gas leaks
- Sells natural gas service to residential, commercial and industrial customers
- Offers customer service and bills customers for gas service
- Offers online customer information about natural gas and gas-fueled products
[edit] Atlanta Gas Light
Atlanta Gas Light, is the largest natural gas distributor in the Southeast, and is the AGL in AGL Resources. It was founded in 1856 and is also headquartered in Atlanta. It distributes to more than 1.6 million residential, commercial, and industrial customers in 243 communities throughout the state of Georgia.
[edit] Chattanooga Gas
Chattanooga Gas provides retail natural gas sales and transportation services to approximately 62,000 customers in Hamilton and Bradley counties in Tennessee, and is responsible for delivering more than 20 billion cubic feet (570,000,000 m³) of natural gas per year. It was founded in 1890 and is headquartered in Chattanooga, Tennessee.
[edit] Elizabethtown Gas
Elizabethtown Gas delivers service to more than 267,000 residential, business and industrial natural gas customers in New Jersey. The utility serves parts of Union, Middlesex, Sussex, Warren, Hunterdon, Morris and Mercer counties. It was founded in 1855 and is headquartered in Union, New Jersey.
[edit] Elkton Gas
Elkton Gas provides natural gas service to approximately 5,900 residential and commercial customers in the greater Elkton area of northeastern Maryland, near the Delaware border. It was founded in 1863.
Additional services include:
- Maintenance and repair of heating systems and appliances
- Assistance in converting to natural gas from other fuels
[edit] Florida City Gas
Florida City Gas provides natural gas service to more than 104,000 residential, commercial and industrial customers along Florida's southeastern coast. It was founded in 1946 and is headquartered in Atlanta, Georgia.
[edit] Virginia Natural Gas
Virginia Natural Gas provides natural gas service to more than 264,000 residential, commercial and industrial customers in the Hampton Roads area of southeastern Virginia. The company continues to be one of the fastest-growing natural gas distribution companies in the country. It was founded in 1850 and is headquartered in Norfolk, Virginia.
Additional services include:
- Operating a 150-mile (240 km) high-pressure intrastate pipeline originating in Quantico and terminating in Williamsburg, Virginia
- Operating two propane storage and vaporization facilities and a Liquefied Natural Gas (LNG) facility located in James City County and Chesapeake to supplement natural gas supplies as needed
[edit] Wholesale services
[edit] Sequent Energy Management
Sequent Energy Management is the company's Houston-based subsidiary primarily involved in asset optimization and energy marketing and trading. It was establish in 2001.
Sequent Energy Management provides clients in the eastern and southeastern United States ways to optimize energy programs and increase cost effectiveness from wellhead to burner-tip. Sequent offers solutions for large energy users looking to outsource their asset management activities.
Serving the needs of utilities, marketers, energy poolers, municipalities and industrials in the southern and eastern United States from Texas to New York, Sequent focuses primarily on asset management and the wholesale marketing, gathering and transporting of natural gas.
[edit] Energy investments
[edit] Jefferson Island Storage & Hub
Jefferson Island Storage & Hub (JISH) is a salt dome natural gas facility and is located near Erath, Louisiana (Vermillion and Iberia parishes). At JISH, two underground salt caverns are used to store gas before it is put into pipelines and sent to residential and commercial customers. These caverns have a total capacity of 9.4 BCF and connect to the Henry Hub via the Sabine pipeline.
[edit] Liquefied Natural Gas (LNG)
AGL Resources owns and operates four LNG peak-shaving facilities, which supply gas at peak use times.
The largest, the Riverdale LNG plant in Riverdale, Georgia, has storage capacity of 31,080,000 gallons or 2,560,000 million cubic feet (Mcf) of natural gas in its two tanks. Located south of Atlanta, the plant is supplied by two interstate pipelines for supply. It is connected to the Atlanta Gas Light beltline pipeline system for distribution of gas to the Atlanta market. The plant is able to deliver 400,000 Mcf/day of gas during peak send-out.
The Cherokee LNG plant, located north of Atlanta in Ball Ground, Georgia, has storage capacity of 25,242,957 gallons or 2,020,237 Mcf equivalent of natural gas in a single tank. The 934-acre (3.78 km²) site was designed to accommodate a second tank of equal capacity if warranted. This plant receives supply from three pipelines and can deliver an equivalent of 400,000 Mcf/day of peak send-out to AGL's Atlanta market.
AGL Resources also owns and operates an LNG plant in Macon, Georgia. This plant's single tank storage capacity is 18,900,000 gallons or the equivalent of 1,501,983 Mcf. Although the plant is capable of delivering up to 150,000 Mcf/day, the pipeline system exiting the plant can accommodate a delivery of less than half that volume, of only 70,000 Mcf/day.
In Tennessee, Chattanooga Gas, another AGL Resources subsidiary, receives peak day supplies from the company’s Chattanooga plant, which holds the equivalent of 1,186,035 Mcf. This facility is supplied by two pipelines and can deliver up to 90,000 Mcf/day to the Chattanooga Gas market.
AGL Resources, through Virginia Natural Gas (VNG), also owns some storage capacity — 752,174 Mcf equivalent — in the Columbia Natural Gas Company-operated Chesapeake LNG facility. This plant is located at the end of the Columbia pipeline that supplies VNG’s south system. To more fully utilize this contracted capacity, VNG constructed an LNG vaporization plant adjacent to its propane plant in 2002. This system is capable of adding up to 14,400 Mcf/day into the VNG system by trucking LNG from the Chesapeake plant to the vaporization plant.
[edit] Revenue
According to the Atlanta Journal-Constitution, AGL Resources reported a $1 million loss in profits during 2007. Its 2007 net income was $211 million compared to $212 million in 2006. The earnings per share remained the same at $2.72 per share.
[edit] Executive Team
The Chairman, President and CEO of AGL Resources is John W. Somerhalder, II. The Executive Vice President and Chief Financial Officer of AGL Resources is Andrew W. Evans.
[edit] Corporate Social Responsibility
AGL Resources cites four areas of focus in its corporate social responsibility program: energy assistance, education, environmental stewardship and community enrichment.
Additionally, all of AGL Resources' 2,385 employees are welcome to participate in the company's "V-Force" program. V-Force, short for Volunteer Force, provides volunteer opportunities for employees including activities such as the walking for the March of Dimes, building houses for Habitat for Humanity and teaching students how to manage money through the Junior Achievement program. Employees use a computer program that coordinates with V-Force to sign up for volunteer activities and log their volunteer hours.
