AGL has a strong history of working with landholders in rural NSW and Queensland to develop our gas projects. Our experience has shown us that gas operations and farming activities, as well as other land uses such as viticulture, can successfully co-exist while providing regular income to landholders.
We value relationships that are built on mutual trust and respect, and we act with honesty and integrity in all of our dealings with landholders. We are committed to working with landholders to ensure our projects operate alongside farming activities, without impacting important agricultural resources and future land uses.
In February 2016 AGL announced that following a review, it has taken a strategic decision that exploration and production of natural gas assets will no longer be a core business for the company due to the volatility of commodity prices and long development lead times.
AGL will not proceed with the Gloucester Gas Project and will cease production at the Camden Gas Project.
AGL will commence an extensive decommissioning and rehabilitation program for its well sites and other infrastructure in the Gloucester region. The Camden site and wells are being progressively decommissioned and the sites rehabilitated.
Following AGL's ASX announcement, we will continue to consult with landholders while we work through decommissioning and rehabilitation programs wells in the Gloucester and Macarthur regions.
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