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APA GROUP — Capital/Financing Update 2018
Dec 18, 2018
64398_rns_2018-12-18_0c182a88-128d-4333-abd4-8eb188b59a16.pdf
Capital/Financing Update
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Australian Pipeline Ltd ACN 091 344 704 | Australian Pipeline Trust ARSN 091 678 778 | APT Investment Trust ARSN 115 585 441 Level 25, 580 George Street Sydney NSW 2000 | PO Box R41 Royal Exchange NSW 1225 Phone +61 2 9693 0000 | Fax +61 2 9693 0093 APA Group | apa.com.au
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19 December 2018
ASX ANNOUNCEMENT
APA Group (ASX: APA) (also for release to APT Pipelines Limited (ASX: AQH))
APA SIGNS EAST COAST GRID GTA VARIATION
APA Group (ASX:APA), a leading Australian energy infrastructure business, today announced it has signed a significant variation to an existing East Coast Grid gas transportation agreement. The contract variation represents the re-contracting of current services, delivering approximately $40 million in revenue over the period 1 January 2021 to 31 December 2022; and a suite of new services, totalling in the order of $50 million of new revenues for the period 1 January 2020 to 31 December 2022.
Managing Director Mick McCormack said, “When APA put the East Coast Grid together in 2012, we were very aware of the benefits and opportunities that we’d be able to offer our customers. To see the flexibility and range of options that our customers are able to take advantage of is extremely satisfying. APA’s Grid is the true heart of the east coast energy market, constantly transporting gas in all directions through 7,500 kilometres of interconnected pipe.
“The new contract arrangements will support our customer’s ability to efficiently respond to southern market dynamics and includes both gas transportation and storage services.”
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Nevenka Codevelle
Company Secretary Australian Pipeline Limited
For further information please contact:
Investor enquiries: Media enquiries: Jennifer Blake Louise Watson Telephone: +61 2 9693 0097 Telephone: +61 2 8011 0591 Mob: +61 455 071 006 Mob: +61 419 185 674 Email: [email protected] Email: [email protected]
About APA Group (APA)
APA is a leading Australian energy infrastructure business, owning and/or operating in excess of $20 billion of energy infrastructure assets. Its gas transmission pipelines span every state and territory on mainland Australia, delivering approximately half of the nation’s gas usage. APA has direct management and operational control over its assets and the majority of its investments. APA also holds ownership interests in a number of energy infrastructure enterprises including SEA Gas Pipeline, SEA Gas (Mortlake) Partnership, Energy Infrastructure Investments and GDI Allgas Gas Networks.
APT Pipelines Limited is a wholly owned subsidiary of Australian Pipeline Trust and is the borrowing entity of APA Group.
For more information visit APA’s website, apa.com.au