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Phoenix Natural Gas
Description
Phoenix Natural Gas ("PNG") owns and operates a downstream natural gas network system bringing natural gas to the industrial, commercial and domestic markets of the Greater Belfast area. It currently supplies more than 230,000 properties.
Strategy
PNG was part of East Surrey Holdings (ESH) which operated and developed regulated infrastructure businesses and originally included three operations: Sutton and East Surrey Water (SESW), Phoenix Natural Gas (PNG) and East Surrey Pipelines (ESP).
ESH represented a unique opportunity for Terra Firma to acquire a portfolio of regulated utility businesses, including gas businesses that demonstrated strong growth prospects. Terra Firma sold the water and gas transportation businesses in 2006, but retained PNG.
PNG continues to develop and invest in its gas distribution infrastructure and to increase the number of customers who benefit from natural gas in Belfast.
- "Natural gas network system supplying natural gas to Greater Belfast"
- Sector
- Utilities
- Transaction size
- –
- Status
- Unrealised
- Investment year
- –
- Exit Year
- –