Origin sells Carpentaria Gas Pipeline interest for $16 million
Posted: 24 December 2004
Origin Energy in conjunction with Santos Limited and Delhi Petroleum announced today that they have entered into an agreement with Australian Pipelines Trust (APT) to sell their combined 30 per cent interest in the Carpentaria Gas Pipeline (CGP) for a total cash consideration of $98 million.
Origin Energy’s interest in the CGP is approximately 5 per cent and its share of the total cash consideration is $16.4 million. The sale is expected to contribute approximately $9 million to Origin Energy’s December half year profit.
The CGP is a 840 km sales gas trunk pipeline from the South West Queensland Producers’ (Producers) Ballera gas processing plant in south west Queensland to Mt Isa.
The sale has an effective date of 1 August 2004.
The sale does not affect the existing shipping rights of Origin Energy and the other Producers on the CGP.
For more information see http://www.originenergy.com.au
Posted by Richard Price,
Editor EnergyME.com
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to richard@energyme.com |
