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Stock Market & Financial Investment News

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February 20, 2013
17:33 EDTWGL, RDS.AWashington Gas and Shell Energy enter into five-year supply arrangement
Washington Gas, a subsidiary of WGL Holdings (WGL), announced that it has entered a five-year secured supply arrangement with Shell Energy North America, a unit Shell (RDS.A). Under this arrangement, WGES will have the ability to purchase the majority of its power, natural gas and related products from Shell Energy in a structure that reduces WGES' cash flow risk from collateral posting requirements. As a result of this credit support agreement, Shell Energy will have a lien on WGES' assets, principally its retail accounts receivables and contracts.
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