Overview Key strengths Key risks Regional demand-pull pipeline for end-use markets in Alabama, Georgia, and South Carolina. Single-asset pipeline with high exposure to a single commodity, natural gas. Stable and predictable cash flow backed by firm transportation contracts accounting for about 90% of capacity. Majority of discretionary cash flow paid out via dividends. High average shipper rating of ?BBB+?. Southern Natural Gas Co. LLC (SNG) is in a favorable geographic location since it supplies natural gas to growing markets. States such as Alabama, Georgia, and South Carolina are using more gas-fired power generation, and the company has gained an advantage as the principal transporter of natural gas in those regions. Approximately 90% of SNG's transportation revenue comes from fixed reservation
