Our History: National Gas
About Us
The creation of National Gas
The story of National Gas as a stand-alone organisation began in March 2022, when National Grid plc announced its intention to sell a 60% equity stake in its Gas Transmission and Metering business. The buyers were a consortium led by Macquarie Asset Management and British Columbia Investment Management Corporation (BCI).
The completion of the sale to a newly created holding company structure took place on 31 January 2023 and the Company began to operate under a new name, National Gas Transmission plc.
How we are owned
Macquarie Asset Management and British Columbia Investment Management Corporation initially held a controlling 60% stake in National Gas Transmission. On 11 March 2024, Macquarie Asset Management and British Columbia Investment Management Corporation increased their equity interest in National Gas Transmission to 80%, with National Grid maintaining a 20% interest in the business. On 26 July 2024, the consortium exercised their option to acquire the final 20% of the National Gas group which is held by National Grid plc. Completion of the transfer of this 20% is expected by the first quarter of calendar year 2025, subject to the satisfaction of customary closing conditions and regulatory approvals.
Meet our owners:
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. As the world’s largest infrastructure asset manager, it is trusted by institutions, pension funds, governments and individuals to manage a diverse portfolio of more than £403 billion in assets globally.
British Columbia Investment Management Corporation (BCI) is among the largest institutional investors in Canada. It invests in tangible long-life assets that include a portfolio of direct investments in companies across sectors spanning regulated utilities, energy, telecommunications and transportation, as well as investments in timberlands and agri-businesses.
Introducing National Gas
Take a look at our webinar, recorded in February 2023, introducing the new National Gas business and explaining its role and operations.
History of the UK gas industry
Step back in time: from the early days of manufactured gas through nationalisation and the nationwide conversion to natural gas through to privatisation.
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Governance
Our Board has overall responsibility for ensuring the long-term success of the business. Find out more about our Board Committees, steering groups and approach to risk management.
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Our Business
Get to know the three businesses that make up National Gas, and find out more about our purpose, values and priorities.
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