23 October 2014
The name change to Australian Gas Networks Limited follows the recent move to full ownership of Envestra by the Cheung Kong Consortium, and the subsequent delisting of Envestra from the Australian Securities Exchange on 17 October 2014.
"The new name clearly defines the nature of our business and the national footprint over which we operate as the nation's leading distributor of natural gas," the Managing Director of Australian Gas Networks, Mr Ian Little, said today.
"It reflects our commitment to serving the people of Australia, and highlights our culture of putting the
communities we serve at the heart of everything we do".
"Australian Gas Networks will continue to focus on providing the high level of service our 1.2 million consumers around the country have come to expect in the past, as we move forward with the new business identity," added Mr Little.
Each year, Australian Gas Networks invests around $250 million in undertaking major projects, extending its networks into new subdivisions, improving supply and replacing ageing gas mains.
"Under the Company's ongoing mains replacement program, it is expected that 450 kilometres of old mains will be upgraded this year at a cost of around $130 million and 460 kilometres will be upgraded next year for a similar amount", added Mr Little.
For further information please contact:Des Petherick - Company Secretary Telephone: 08 8418 1114
About Australian Gas NetworksThe Company's origin dates back almost 150 years to the former South Australian Gas Company, Queensland
Gas Company and the Gas and Fuel Corporation of Victoria. Today, Australian Gas Networks owns around
23,000 kilometres of natural gas distribution networks and 1,100 of transmission pipelines which deliver this environment friendly fuel to almost 1.2 million consumers.
The new website address will be http://www.australiangasnetworks.com.au/www.australiangasnetworks.com.au. Our natural gas marketing website is www.maketheconnection.com.au.
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