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What is Australian Gas Networks mean?
Australian Gas Networks Limited, formerly Envestra Limited, is an Australian energy company that operates natural gas transmission pipelines and distribution networks in South Australia, Victoria, Queensland, New South Wales, and the Northern Territory. The company owns distribution systems in a number of towns and metropolitan areas including Adelaide, Brisbane, Melbourne, Rockhampton, Albury, Alice Springs, Bundaberg and Whyalla. It outsources the operation and management of the assets to the APA Group.
In October 1993, Boral acquired from the South Australian government SAGASCO, its vertically integrated natural gas monopoly. Boral combined SAGASCO's distribution network with businesses it owned in Queensland to form Envestra, which was floated in early 1997. In March 1999, Envestra acquired part of the former Gas and Fuel Corporation's distribution network in Victoria, known as the Stratus distribution network, and renamed it Envestra (Vic).
In 2013, APA Group announced an approach to the board of Envestra with an all-share merger proposal. In September 2014, Hong Kong-based Cheung Kong Group bought all the shares in Envestra, including APA's 33.4% stake, while APA retained the operation and management of Envestra's assets until 2027. In October 2014, the company's name was changed to Australian Gas Networks Limited.
referencePosted on 25 Oct 2024, this text provides information on Miscellaneous in Regional related to Regional. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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