Gas Natural Inc. (EGAS) Reports Purchase of Pipeline and Other Assets

By @ibtimes on

Gas Natural Inc. reported the purchase of pipelines and other assets located in the company’s service area in the United States. The company plans to use these assets to expand its operations.

In Ohio, Gas Natural Inc. is purchasing 140 miles of pipeline that runs between Marion and Youngstown, along with other assets located near Cleveland. The company intends to convert the pipelines to transport natural gas and extend the lines to service the Utica and Marcellus Shale basins.

In Kentucky, Gas Natural Inc. is purchasing 60 miles of right-of-way in areas near Louisville. The company is still developing possible uses for the future use of these assets.

Gas Natural Inc. said that Spelman Pipeline Holdings, LLC, a wholly owned subsidiary of the company, purchased the assets from Marathon Petroleum Company, LP. The purchase price was not disclosed due to competitive reasons.

Gas Natural Inc. is a regulated natural gas distributor that supplies more than 60,000 residential and business customers in five states. The company estimates its natural gas volumes at 1.3 billion cubic feet.

Gas Natural Inc. also markets natural gas on an unregulated basis to industrial and commercial accounts in Montana and Wyoming, has interests in 160 producing natural gas wells and owns the Shoshone and Glacier pipelines.

For more information on the company, go to www.ewst.com

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