SGN (company)
SGN (previously Scotia Gas Networks) is a British gas distribution company. It manages natural and green gas distribution networks in Scotland and in the south of England.[2] As of 2014/15 SGN operates more than 44,000 miles (71,000 km) of pipes. In the same period, SGN spent £500 million on upgrading the network.[3]
| Type | Private |
|---|---|
| Industry | Gas |
| Founded | 2005 |
| Headquarters | Horley, England, UK |
Area served | Scotland and the south of England |
Key people | Mark Wild (CEO) |
| Products | Gas distribution |
| Owners | Brookfield Infrastructure Partners (37.5%) Ontario Teachers’ Pension Plan Board (37.5%) Global Infrastructure Partners (25%)[1] |
Number of employees | 3,816 |
| Website | www |
History edit
The company was formed in 2005 as Scotia Gas Networks.[4] From that year it was 50% owned by SSE plc.[5] In September 2014 it was renamed SGN.[6]
SSE sold 16.7% of the company to the Abu Dhabi Investment Authority in 2016.[7][5]
In March 2021, SSE sold its remaining one-third share for £1225 million, and the Abu Dhabi Investment Authority sold its one-sixth holding. The purchasers were the Ontario Teachers' Pension Plan, which increased its stock holding from 25% to 37.5%, and Brookfield Infrastructure Partners, which bought 37.5%; the Ontario Municipal Employees Retirement System retained its 25% holding,[5] which in December 2021 it sold to the American private equity firm Global Infrastructure Partners.[8][9] The financial terms of the sale were not disclosed, but the Globe and Mail reported the price was 1.6 billion Canadian dollars.[10]
In September 2020 the company commissioned Wood to create a "decarbonisation roadmap" for the north-east and east coast of Scotland.[11]
Funding for innovation edit
In 2014, SGN was awarded funding from the industry regulator, Ofgem, to develop two projects. "Opening up the Gas Market" is an investigation into whether the British Gas Safety Regulations could be changed to accept different types of gas. "Robotics" is a project to develop technology for repairing steel mains without interrupting the gas.[12]
Thornton Heath gas explosion edit
A gas explosion in Croydon, London, on 8 August 2022 resulted in the death of a 4-year-old girl, Sahara Salman. Several other local residents were seriously injured.[13] SGN was reported to have been notified of the gas leak on 30 July[14]
References edit
- ^ . Archived from the original on 25 March 2016. Retrieved 29 January 2015.
- ^ SGN "About Us"
- ^ "Ofgem RIIO model performance". 5 October 2015. Retrieved 20 November 2015.
- ^ "Structure" (PDF). Ofgem. 14 May 2010. Retrieved 22 October 2023.
- ^ a b c "Scotland's gas pipelines sold to Canadian consortium". BBC News. 2 August 2021. Retrieved 3 August 2021.
- ^ "ENA - Gas distribution map". www.energynetworks.org. Retrieved 22 October 2015.
- ^ . Sovereign Wealth Fund Institute. 17 October 2016. Archived from the original on 22 February 2017.
- ^ "Global Infrastructure Partners announces agreement to acquire a 25% interest in Scotia Gas Networks from OMERS". PR Newswire. 22 December 2021. Retrieved 22 October 2023.
- ^ Burns, Paul; Clancy, Aislinn; Rosato, Melissa (9 August 2022). "Is one of Canada's largest pension funds quietly divesting from fossil fuels?". Corporate Knights. Retrieved 22 October 2023.
- ^ Findlay, Keith. "Scottish gas network operator heading for all-Canadian ownership after £1.2bn-plus deal". Evening Express. Retrieved 18 December 2022.
- ^ "Wood partners with SGN to create "decarbonisation roadmap" in Scotland". Aberdeen Business News. 22 September 2020. Retrieved 22 September 2020.
- ^ "Ofgem Gas Network Innovation Competition".
- ^ Ben Quinn (10 August 2022). "Mother of girl killed in London gas explosion says world has been 'torn apart'". TheGuardian.com. Retrieved 31 August 2022.
- ^ Sami Quadri (10 August 2022). "Mother of 'incredible' girl killed in Thornton Heath explosion tells of heartbreak". Evening Standard. Retrieved 31 August 2022.
External links edit
- Official website