Gas Natural Inc. Initiates Service to Major New Industrial Customer in Lincoln, Maine
Lincoln Paper and Tissue to benefit from clean, efficient natural gas
MENTOR, Ohio, Nov. 4, 2014 /PRNewswire/ -- Gas Natural Inc. (NYSE MKT: EGAS) (the "Company"), a holding company operating local natural gas utility companies serving approximately 73,000 natural gas customers in seven states, announced that its subsidiary, Bangor Gas, has initiated natural gas service to Lincoln Paper and Tissue ("LPT"), a manufacturer of high quality paper and tissue products in Lincoln, Maine.
Mr. Gregory J. Osborne, President and Chief Executive Officer of Gas Natural, commented, "We are very pleased to be bringing Lincoln Paper and Tissue online, as scheduled, as a major industrial customer. And as we continue to invest throughout the winter, the expanded system along the Loring Pipeline will offer the benefits of clean, energy efficient and reliable natural gas to this previously under-served community of commercial, residential and industrial customers in the Lincoln, Maine region. This progress demonstrates continued execution of our strategic plan to invest in our key growth markets."
Mr. Keith Van Scotter, Chief Executive Officer of Lincoln Paper and Tissue, added, "Bangor Gas has delivered on their promise to LPT and the region. We have a great partnership with them and are pleased and honored to be the anchor tenant on a major expansion of natural gas infrastructure in the state of Maine."
Governor Paul LePage concluded, "It is imperative that our state's employers have competitive energy costs. That is why I have focused on both expanding our natural gas infrastructure as well as our access to domestic natural gas resources. I am encouraged by the completion of the Bangor Gas project that has extended service to Lincoln Paper and Tissue and am focused on continuing to make Maine more competitive in a global economy to attract more jobs to our state."
LPT is now online as Bangor Gas' anchor customer in the Lincoln, Maine region and is one of the Company's largest key customers. The Company plans to continue to expand its natural gas service in Lincoln and throughout its service area in Maine.
About Gas Natural Inc.
Gas Natural Inc., a holding company, distributes and sells natural gas to end-use residential, commercial, and industrial customers. It distributes approximately 36 billion cubic feet of natural gas to approximately 73,000 customers through regulated utilities operating in Montana, Wyoming, Ohio, Pennsylvania, Maine, North Carolina and Kentucky. The Company's other operations include interstate pipeline, natural gas production, and natural gas marketing. The Company's Montana public utility was originally incorporated in 1909. Its strategy for growth is to expand throughput in the Maine and North Carolina markets, while looking for acquisitions that are either adjacent to its existing utilities or in under saturated markets. Gas Natural Inc. regularly posts information on its website at www.egas.net.
Safe Harbor Regarding Forward-Looking Statements
The Company is including the following cautionary statement in this release to make applicable and to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, Gas Natural Inc. Forward-looking statements are all statements other than statements of historical fact, including, without limitation, those that are identified by the use of the words "anticipates," "estimates," "expects," "intends," "plans," "predicts," "believes" and similar expressions. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Factors that may affect forward-looking statements and the Company's business generally include but are not limited to the Company's ability to successfully integrate the operations of the companies it has recently acquired and consummate additional acquisitions, the Company's continued ability to make dividend payments, the Company's ability to implement its business plan, fluctuating energy commodity prices, the possibility that regulators may not permit the Company to pass through all of its increased costs to its customers, changes in the utility regulatory environment, wholesale and retail competition, the Company's ability to satisfy its debt obligations, including compliance with financial covenants, weather conditions, litigation risks, and various other matters, many of which are beyond the Company's control, the risk factors and cautionary statements made in the Company's public filings with the Securities and Exchange Commission, and other factors that the Company is currently unable to identify or quantify, but may exist in the future. Gas Natural Inc. expressly undertakes no obligation to update or revise any forward-looking statement contained herein to reflect any change in Gas Natural Inc.'s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
For more information, contact: |
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Gas Natural Inc. |
Investor Relations |
James E. Sprague, Chief Financial Officer |
Deborah K. Pawlowski or Karen L. Howard, Kei Advisors LLC |
Phone: (440) 974-3770 |
Phone: (716) 843-3908 / (716) 843-3942 |
Email: [email protected] |
Email: [email protected] / [email protected] |
SOURCE Gas Natural Inc.
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