DBCT operators acquire UK gas transporter

THE Dalrymple Bay Coal Terminal operator formerly known as Prime Infrastructure, Babcock and Brown (BBI) said today it had added UK gas transporter Utility Grid Installations (UGI) to its portfolio at a cost of £5.8 million ($A13.6 million).
DBCT operators acquire UK gas transporter DBCT operators acquire UK gas transporter DBCT operators acquire UK gas transporter DBCT operators acquire UK gas transporter DBCT operators acquire UK gas transporter

Dalrymple Bay Coal Terminal. Courtesy Prime Infrastructure.

Staff Reporter

BBI bought UGI from Bord Gais Eireann, the Irish national gas company. The deal was carried out by BBI’s UK subsidiary, the Gas Transportation Company (GTC), which was brought into the BBI fold as part of BBI’s acquisition of the International Energy Group (IEG) in May 2005.

UGI is one of 13 independent gas transportation license holders in the UK, and currently has about 7000 existing connections, plus an order book of approximately 14,000 connections.

“This opportunity falls squarely within BBI’s aggregation strategy, which we articulated as an important driver for buying the IEG business in May 2005,” BBI chief executive Chris Chapman said.

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