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APA GROUP — Capital/Financing Update 2012
Dec 10, 2012
64398_rns_2012-12-10_b492ad41-4e41-41c6-92c9-b94ac71fc2e3.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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11 December 2012
APA Group (ASX: APA)
(also for release to APT Pipelines Limited (ASX: AQH))
APA to expand compression capacity at Wallumbilla hub, Queensland
APA Group (ASX:APA), Australia’s largest natural gas infrastructure business, today announced it will proceed with the development of expanded compression capacity and associated services at the Wallumbilla gas hub, Queensland. Commercial agreements between Epic Energy Queensland Pty Limited (Epic) and GLNG Operations Pty Ltd (GLNG) will underpin the capital investment of up to $200 million over the next two years.
The Wallumbilla gas hub is connected to all major gas pipelines that flow into and out of Wallumbilla, including APA’s Roma Brisbane Pipeline and the South West Queensland Pipeline, which has been acquired by APA as part of the acquisition of Hastings Diversified Utilities Fund (ASX:HDF). Accordingly, it is well placed to provide gas transportation and compression services for customers in south east Queensland.
The capital works will increase compression capacity at the hub and provide the option for further compression services in the future. Design and procurement activities have commenced, with the compression and associated services to be available at the start of 2015.
The additional compression capacity and services which will be available as a result of the capital works have been contracted with GLNG under a 15-year agreement, with a further 5 to 10 year option.
Epic is an entity wholly owned by HDF. APA currently owns 98.56% of HDF and has commenced compulsory acquisition procedures in relation to the remaining HDF securities.
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Mark Knapman Company Secretary Australian Pipeline Limited
For further information please contact: Investor enquiries: Chris Kotsaris Telephone: (02) 9693 0049 Mob: 0402 060 508 Email: [email protected]
Media enquiries: David Symons Telephone: (02) 9212 4666 Mob: 0410 559 184 Email: [email protected]
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About APA Group (APA)
APA is Australia’s largest natural gas infrastructure business, owning and/or operating more than $10 billion of gas transmission and distribution assets. Its pipelines and assets span every state and territory on mainland Australia, delivering 50% of the nation’s gas usage. Unique amongst its peers, APA has direct management and operational control over its assets and the majority of its investments. APA also holds minority interests in energy infrastructure enterprises including Envestra, SEA Gas Pipeline and Energy Infrastructure Investments.
APT Pipelines Limited is a fully owned subsidiary of Australian Pipeline Trust and is the borrowing entity of APA Group.
For more information visit APA’s website, www.apa.com.au
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