Sui Southern Gas Company

Natural gas company in Pakistan

Sui Gas Transmission Company Limited
Karachi Gas Company Limited
Indus Gas Company Limited

Founded1954HeadquartersKarachi, Pakistan

Key people

Imran Maniar (managing director)ProductsNatural Gas Transmission & DistributionRevenue

Rs. 296.12 billion (US$1.0 billion)^[1] (2021)

Operating income

Rs. 5.75 billion (US$20 million)^[1] (2021)

Net income

Rs. 1.95 billion (US$6.8 million)^[1] (2021)Total assets

Rs. 492.41 billion (US$1.7 billion)^[1] (2021)Websitessgc.com.pk

The Sui Southern Gas Company (SSGC), (Urdu: سوئی سدرن گیس کمپنی) formerly known as Sui Gas Transmission Company Limited, is a Pakistani state-owned natural gas supply company based in Karachi, Pakistan.

Sui Southern Gas Company is Pakistan's leading integrated gas company. The company is engaged in the business of transmission and distribution of natural gas in southern part of Pakistan- mainly in Sindh and Baluchistan. Sui Southern Gas Company transmission system extends from Sui, Balochistan to Karachi, Sindh.^[2]

History

Sui Southern Gas Company's history goes back to Sui Gas Transmission Company (SGTC) which was established in 1954 to purchase natural gas from Pakistan Petroleum Limited, which had discovered natural gas in Sui, Balochistan in 1952.^[3] The company was responsible for transporting gas to Karachi and other intermediate markets via pipeline.^[3] The funding for SGTC came from multiple sources including Pakistan Industrial Development Corporation (PIDC), Commonwealth Development Finance, Burmah Oil, and general public, with each entity investing approximately PKR 10 million.^[3] The remaining funding required, around PKR 90 million, was sourced through a $5 million loan from the International Bank for Reconstruction and Development (IBRD).^[3]

The construction of the 347-mile pipeline with a 16-inch diameter and a capacity of 110 million cubic feet of gas per day was carried out by Pakistan Constructors, a joint venture between Morrison–Knudsen and William Press Ltd.^[3] The project commenced in July 1954 and was completed by April 1955.^[3] In 1955, it was listed on the Karachi Stock Exchange following an initial public offering.^[4]

By September 1955, the pipeline was operational, distributing gas to consumers.^[3] In the Federal District, Karachi Gas Company was formed to handle local distribution, with a capital of PKR 15 million, funded equally by the public, PIDC, and Industrial Management Limited as the managing agents.^[3] Additionally, Indus Gas Company was established under the supervision of PIDC to distribute gas to regions outside the Federal Capital area, with managerial and technical support from Italian firm, Societe Nazionale Metanodotti (SNAM).^[3]

In March 1989, following a series of mergers of three companies, namely Sui Gas Transmission Company Limited, Karachi Gas Company Limited, and Indus Gas Company Limited, Sui Southern Gas Company was formed.^[2]^[5]

Subsidaries

SSGC owns and operates the only gas meter manufacturing plant in the country, under an agreement with Schlumberger Industries, France. The Company is listed on the Pakistan Stock Exchange. On 11 January 2016, all 3 local city stock exchanges merged to form Pakistan Stock Exchange.^[6]

References

^ ^a ^b ^c ^d "SSGC Annual Report 2021" (PDF). ssgc.com.pk. Retrieved 29 November 2023.
^ ^a ^b Sui Southern Gas Company Limited - stock quote and company business summary on MarketScreener.com website Retrieved 19 June 2021
^ ^a ^b ^c ^d ^e ^f ^g ^h ⁱ Mineral Trade Notes, Issues 41–50. p. 10.
^ "Road shows for SSGC public offering". DAWN.COM. 14 January 2004.
^ Dilawar Hussain (21 November 2002). "Sui Southern Gas Company: CORPORATE PROFILE". Dawn. Retrieved 19 June 2021.
^ "Pakistan Stock Exchange formally launched". DAWN.COM. 11 January 2016.