On 30 June 2008 AGL Energy Limited (AGL) and its 50/50 joint venture partner, Arrow Energy Ltd, announced that it had entered into an agreement to sell the North Queensland Gas Pipeline to Victorian Funds Management Corporation for $205 million (AGL share $102.5 million). AGL is pleased to confirm completion of the sale as planned. Net proceeds from the transaction will be used to repay corporate debt.
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Further enquiries:
Media
Andrew Scannell, Head of Media
Direct: + 61 3 8633 6167
Mobile: + 61 (0) 407 290 658
e-mail: ascannell@agl.com.au
Analysts & Investors
Graeme Thompson, Head of Investor Relations
Direct: + 61 2 9921 2789
Mobile: + 61 (0) 412 020 711
e-mail: gthompson@agl.com.au
About AGL
AGL is one of Australia's leading integrated energy companies. Drawing on 170 years of experience, it includes retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has Australia's largest retail energy and dual fuel customer base. This includes customers supplied with gas and electricity through AGL's joint venture partnership with ActewAGL. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. One of Australia’s
largest renewable energy producers, AGL is looking to further expand this position by exploring a suite of low emission and renewable energy generation development opportunities.
About VFMC
Victorian Funds Management Corporation (VFMC) is responsible for managing investments of approximately $38 billion for Victorian Governme nt entities. Clients include pension fund ESSSuper Emergency Services & State Super and insurers Transport Accident Commission, Victorian WorkCover Authority and Victorian Managed Insurance Authority.
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