Moderately supportive regulatory environment, Low gas supply risk, and Minimal competitive pressures. Long-term exposure to higher-risk oil and gas exploration and production (E&P) operations and oil, gas, and hydrocarbon liquids processing and marketing through association with Questar affiliates. The ratings on Questar Gas Co. reflect a moderately supportive regulatory environment, low gas supply risk, and minimal competitive pressures. These strengths are partially offset by exposure to certain nonregulated activities at Questar affiliates. Questar Gas is the regulated gas distribution subsidiary of Questar Corp. Questar is a natural gas-focused energy holding company that acquires, explores for, develops, produces, gathers, processes and markets oil, gas, and hydrocarbon liquids through its subsidiary, Questar Market Resources (QMR). Questar also owns Questar Pipeline Co., which
