ATLANTA, Ga., July 1, 2002 — AGL Resources announced recently formation of a new business division to lead its non-regulated subsidiaries, to be called Sequent Diversified Business Group.
The new division includes the activities of Sequent Energy Management headquartered in Houston, AGL Networks which will move its headquarters to Houston, and management of AGLR’s participation in SouthStar Energy Services LLC, the joint venture offering retail service under the brand Georgia Natural Gas.
Richard J. Duszynski will head the division as an AGLR executive vice president and group president, Sequent Diversified Business Group. Formerly Duszynski was president and chief executive officer of Sequent Energy Management.
“This new alignment of AGL Resources’ non-regulated businesses lets us leverage the full strength of our management teams in these high-growth areas of our business,” said Paula G. Rosput, AGLR’s chairman, president and chief executive officer.
“Rick and his team have demonstrated a gift for transforming good entrepreneurial ideas into strong, viable businesses. Our non-regulated operations will benefit from their combined business discipline and know-how.”
Both of AGLR’s wholly owned non-regulated businesses have grown rapidly, taking advantage of the commercial opportunities created by recent investor disfavor and missteps by the large public companies in both the merchant energy and telecom sectors.
By identifying sound assets within the chaos of these two markets and then managing those assets intelligently to create value, Sequent Energy Management and AGL Networks have built solid business bases.
Additionally, during the past year Sequent Energy Management has provided AGLR’s three regulated utilities with enough commercial strength not only to stem the flow of value previously being contractually assigned to the large energy mega-marketers, but also to recapture much of the value lost in prior arrangements.
Under the new division, Claude Straub becomes president and chief operating officer of Sequent Energy Management in Houston. Straub had been senior vice president, commercial operations, at Sequent Energy Management. Wade Doshier will be president and chief operating officer of AGL Networks. Doshier previously was senior vice president, commercial transactions, at AGL Networks.
Sequent Diversified Business Group
Sequent Diversified Business Group, a Houston-based division of AGL Resources Inc., is responsible for AGLR’s non-regulated businesses, including Sequent Energy Management, AGL Networks and the company’s participation in SouthStar Energy Services LLC.
Sequent Energy Management, a wholly owned subsidiary of AGL Resources Inc., focuses on asset optimization services, including the marketing, gathering and transportation of natural gas. Sequent Energy Management has rapidly become a dominant niche player in the southeastern United States natural gas market. For more information, visit www.sequentenergy.com.
AGL Networks, LLC, a wholly owned subsidiary of AGL Resources Inc., provides last-mile fiber optic solutions to telecommunications companies. The company’s primary focus is designing, constructing and managing fiber optic networks. AGL Networks offers conduit leasing, dark-fiber leasing, construction services and customer network builds. For more information, visit www.aglnetworks.com.
SouthStar Energy Services, LLC, offers retail energy products and services to more than 550,000 customers in Georgia and to 500 industrial customers throughout the Southeastern United States under the trade name Georgia Natural Gas. Besides Sequent, joint venture partners in SouthStar are Piedmont Natural Gas Company and Dynegy, Inc.
AGL Resources Inc. is an Atlanta-based energy services holding company. Nearly 2 million natural gas customers are served through subsidiaries Atlanta Gas Light Company, Virginia Natural Gas and Chattanooga Gas Company. Houston-based subsidiary Sequent Energy Management provides asset optimization services including the marketing, gathering and transportation of natural gas.
As a member of the SouthStar partnership, AGL Resources markets natural gas to consumers in Georgia under the Georgia Natural Gas brand. AGL Networks, the company’s telecommunications subsidiary, owns and operates fiber optic networks. For more information, visit www.aglresources.com.