Who Owns
the Gaff?
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Utilities

National Gas

Profile reviewed

National Gas operates Britain's national gas transmission network and associated metering and engineering businesses. It is owned by a consortium of MAM, BCI and Australian Retirement Trust interests. [1]

01 / Behind the name

Who owns National Gas?

Private · 60.09% · MAM interest reported by the company [1]

  1. 01
    Disclosed investment scope

    National Gas group · Luppiter Consortium [1]

    As reported · 30 Sept 2024
  2. 02
    Investment manager / disclosed portfolio sponsor

    Macquarie Asset Management [1]

    As reported · 30 Sept 2024

National Gas's ownership table is dated end-September 2024: MAM 60.09%, BCI 27.71% and Australian Retirement Trust 12.20%. The consortium's full ownership is not a 100% MAM holding. MAM is the investment manager; the complete fund-vehicle chain is not established here. The group includes Transmission, Metering, Services and Premtech, acquired in 2024. This is selected ownership evidence, not a complete legal parent or shareholder register. Headquarters and parent incorporation have not been separately verified; the location of operations is not treated as proof of either. [1]

Explore Luppiter Consortium

Owner & brand overview

02 / On the map

Where is it based?

Disclosed ultimate holding company
Luppiter Consortium [1]
Group headquarters
Not yet verified [1]
Parent incorporated in
Not yet verified [1]

Headquarters, incorporation and tax residence describe different things. A headquarters address does not tell you where all of a company’s tax is paid.

Follow the investment

Investors in National Gas

Investor disclosures found

Selected investor disclosures have been found. Each names the held entity, basis and date; the complete investor register remains outside this review. A stake in a parent or operating company is shown against that entity. Dates refer to each disclosure and can differ from the profile review date. Evidence links are included with each record.

Fund investment

Macquarie Asset Management

Held entity · National Gas group · Luppiter Consortium

60.09% · MAM interest reported by the company

Company ownership snapshot ·

National Gas's ownership table is dated end-September 2024: MAM 60.09%, BCI 27.71% and Australian Retirement Trust 12.20%. The consortium's full ownership is not a 100% MAM holding. MAM is the investment manager; the complete fund-vehicle chain is not established here. The group includes Transmission, Metering, Services and Premtech, acquired in 2024.

Evidence · 1 source
Fund investment

British Columbia Investment Management Corporation

Held entity · National Gas group · Luppiter Consortium

27.71%

Company ownership snapshot ·

National Gas's ownership table is dated end-September 2024: MAM 60.09%, BCI 27.71% and Australian Retirement Trust 12.20%. The consortium's full ownership is not a 100% MAM holding. MAM is the investment manager; the complete fund-vehicle chain is not established here. The group includes Transmission, Metering, Services and Premtech, acquired in 2024.

Evidence · 1 source
Fund investment

Australian Retirement Trust

Held entity · National Gas group · Luppiter Consortium

12.20%

Company ownership snapshot ·

National Gas's ownership table is dated end-September 2024: MAM 60.09%, BCI 27.71% and Australian Retirement Trust 12.20%. The consortium's full ownership is not a 100% MAM holding. MAM is the investment manager; the complete fund-vehicle chain is not established here. The group includes Transmission, Metering, Services and Premtech, acquired in 2024.

Evidence · 1 source

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03 / The figures, with context

What does it report in UK tax?

The ownership review has not established a dated UK cash corporation-tax payment. Fund investors, operating businesses and property vehicles can have different reporting scopes; no amount is inferred from the investment disclosure.

United KingdomNot yet verified

UK corporation tax paid

Not yet verifiedCash payment

National Gas · UK reporting scope not verified
Annual reporting period not yet verified

The cited sources establish investment or portfolio information, rather than a dated UK cash payment. The relevant UK tax-paying entity, filed financial period and cash corporation-tax payment have not been separately reconciled in this review. Not verified does not mean that no tax was paid. [1]

These figures have different scopes. They should not be added together or used as a like-for-like tax ranking.

Understand the measures

04 / Check our working

The public record.

Primary sources used in this profile. Company disclosures are attributed to the company; inclusion is not an independent audit.

  1. 01
    National Gas company structure and shareholders (opens in a new tab)

    National Gas · Ownership table at end-September 2024; Luppiter ultimate parent; operating companies and Premtech acquisition

    Accessed 9 Oct 2026