UNITED STATESNews and Media Releases
Shell Energy North America to Acquire Integrys Energy Services’ Canadian Natural Gas And Power Customer Contract Portfolio
17/07/2009
Deal will increase market reach and scalability in key Canadian regions
The addition of these energy services contracts in Canada merges well with Shell Energy’s existing infrastructure and strengths and supports our strategic growth plans – a primary reason we were attracted to Integrys Energy Services’ Canadian contractual assets.
Shell Energy North America (Canada) Inc., a subsidiary of Shell Energy North America (US), L.P. (Shell Energy), today announced it has signed a purchase agreement to acquire the Canadian natural gas and power customer contract portfolio of Integrys Energy Services of Canada Corp., a wholly owned subsidiary of Integrys Energy Services, Inc.
Integrys Energy Services, Inc., a subsidiary of Integrys Energy Group, Inc. (NYSE: TEG), is a diversified non-regulated energy supply and service company serving residential, commercial, industrial and wholesale customers in the United States and Canada.
The acquisition, which still requires certain contractual and necessary regulatory approvals, is expected to be effective early Fall 2009.
“We are eager to serve our new customers by helping them solve their energy and environmental challenges with tailored product and service offerings best suited to their individual needs,” said Mark Quartermain, Shell Energy president. “The addition of these energy services contracts in Canada merges well with Shell Energy’s existing infrastructure and strengths and supports our strategic growth plans – a primary reason we were attracted to Integrys Energy Services’ Canadian contractual assets.”
“This is the right opportunity to divest of our natural gas and power contract assets to a strong company in the industry that will also provide ready access to resources, financial stability and flexibility to customers,” said Integrys Energy Services President and Chief Executive Officer Mark Radtke.
Quartermain noted the acquisition also will benefit existing Shell Energy customers since a broader portfolio creates opportunities for added synergies and efficiencies in the markets.
Houston-based Shell Energy, a wholly owned subsidiary of Royal Dutch Shell plc, (Shell) serves its customers through its regional offices, which are located throughout the United States and Canada. Shell Energy is an integral part of the Shell Trading network of companies and is the primary marketer of Shell’s equity natural gas in North America. As a leader in gas and power marketing, Shell Energy and its subsidiaries, trade and market natural gas, wholesale power, environmental products and risk management products with counterparties and customers throughout the region. As a part of Shell, it leverages Shell’s resources, global reach, employee expertise and financial strength to offer integrated, comprehensive energy solutions tailored to meet the needs of its wide variety of customers including large commercial and industrial users, local gas distribution companies, electric utilities, independent power producers, retail energy aggregators and oil and gas companies. More information about Shell Energy is available at www.shell.com/us/energy.
Shell is one of North America's leading oil and natural gas producers, natural gas marketers, gasoline marketers and petrochemical manufacturers. Operating in Canada since 1911, Shell Canada Limited is one of the largest integrated petroleum companies in the country in which it produces natural gas, natural gas liquids and bitumen, and is Canada’s largest producer of sulphur. In the United States, Shell Oil Company is one of the leading oil and gas producers in the deepwater Gulf of Mexico, and is a recognized pioneer in oil and gas exploration and production technology.
Royal Dutch Shell plc is incorporated in England and Wales, has its headquarters in The Hague and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 100 countries with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects, including wind and solar power.
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