https://www.engineeringnews.co.za

APA settles BG pipeline acquisition at $4.5bn

APA settles BG pipeline acquisition at $4.5bn

Photo by Bloomberg

4th June 2015

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed gas infrastructure group APA Group on Wednesday completed the $4.6-billion buy of the Queensland Curtis liquefied natural gas (QCLNG) pipeline from project developer BG Group.

The pipeline was renamed the Wallumbilla Gladstone pipeline.

APA said on Thursday that the final acquisition price for the transaction had been determined on the finalisation of several parameters, including US Producer Price Index, which resulted in a decrease from the original offer price of $5-billion, as announced in December last year.

“We are very pleased to have completed this acquisition which extends the footprint of our east coast gas grid to over 7 500 km across eastern Australia and represents APA’s largest ever pipeline acquisition,” said APA MD Mick McCormack.

“We have also gained two significant global customers in BG Group and China National Offshore Oil Corporation as part of this transaction and we look forward to further developing our relationship with each of them.”

The QCLNG pipeline transports gas from various fields in the Surat basin to the QCLNG export facility, at Gladstone, and consists of 543 km of transmission pipeline, three laterals, and interconnections with the Gladstone LNG and Australia Pacific LNG project transmission pipelines.

Under gas transportation agreements, the QCLNG pipeline revenues had been fully contracted with BG Group entities and China National Offshore Oil Corporation-owned entities, on a 20-year take-or-pay basis.

Edited by Creamer Media Reporter

Comments

Showroom

ESAB showroom image
ESAB South Africa

ESAB South Arica, the leading supplier of high-end welding and cutting products to the Southern African industrial market is based in...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.084 0.149s - 156pq - 2rq
Subscribe Now