Envestra was formed in August 1997, when the natural gas distribution networks of the former South Australian Gas Company (SAGASCO), Gas Corporation of Queensland (GCQ) and Centre Gas Pty Ltd (in the Northern Territory) were combined into one organisation and floated on the Australian Stock Exchange (ASX). SAGASCO and GCQ had operated as bundled utility businesses (ie. distributors and retailers) since the 1860's.
The creation of Envestra
is directly linked to the policy of the Australian Government
to introduce greater competition into the natural gas industry
(for further information refer to 
Regulatory
Regime) by splitting the retail function from the ownership
and operation of the distribution networks.
At the time of listing
on the ASX, Envestra's distribution networks were valued at
$900 million (for further information refer to Assets).
In March 1999 Envestra acquired a distribution business in Victoria for approximately $1.2 billion. The purchase increased the Company's assets to $2.1 billion, increased the distribution networks to about 17,000 kilometres and increased the number of consumers supplied with natural gas to 835,000. Today the Company owns about 20,000 kilometres of networks, 1,000 kilometres of transmission pipelines and delivers gas to almost one million consumers.
The total number of
Stapled Securities issued by the Company is 852.3 million.
The Company has about 21,000 shareholders (for further information
refer to Stapled
Securities).
The major shareholders in Envestra are APA Group and Cheung Kong Infrastructure Holdings Ltd. APA Group holds 17.2% of the issued capital and CKI holds 16.3%.
As from 2 July 2007, Envestra contracted
APA Group (APA) to operate, maintain
and expand its distribution networks (for further information
refer to
Operating
Agreements).
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