Origin completes gas transportation agreement with Epic
ASX/Media Releases
15 Dec 2009
Origin Energy Limited (“Origin”), Australia’s leading integrated energy company, advises that it has secured long term gas pipeline capacity to link its Eastern Australian portfolio following completion of a gas transportation agreement with Epic Energy (“Epic”).
Origin’s Executive General Manager Energy Markets, Mr Frank Calabria said, “The expansion of the South West Queensland Pipeline and QSN Link will provide Origin with increased flexibility in moving gas resources from Queensland to our customers and power stations in southern Australia.”
A conditional gas transportation agreement had been signed between Origin and Epic in June 2009. Epic announced earlier today that it would be proceeding with the expansion of capacity on the 937 kilometre South West Queensland Pipeline and QSN Link from Wallumbilla to Moomba.
The agreement covers the transportation of up to 1,200 PJ of gas over 22 years from January 2012 with extension options over some capacity for up to a further 10 years.
It also includes additional long term capacity on the Moomba to Adelaide pipeline and options to further expand the capacity of the South West Queensland Pipeline in the future.
Origin did not exercise its option to contribute to the funding required by Epic to undertake the project.
Epic is wholly owned by the Hastings Diversified Utilities Fund.
For further information please contact:
Investors
Angus Guthrie
Group Manager, Investor Relations
Ph: +61 2 8345 5558
Mobile: +61 417 864 255
Media
Lina Melero
General Manager, Corporate Communication
Ph: 02 8345 5217
Mobile: 0427 017 798
About Origin Energy
Origin Energy is Australasia's leading integrated energy company focused on gas and oil exploration and production, power generation and energy retailing.
Listed in the ASX top 20 the company has approximately 4,000 employees, is a leading producer of gas in eastern Australia, is the largest owner and developer of gas-fired electricity generation in Australia and is a leading wholesaler and retailer of energy. The company services more than 3.5 million electricity, natural gas and LPG customers across Australia, New Zealand and the Pacific. Origin's strategic positioning and portfolio of assets provide flexibility, stability and significant opportunities for growth in the ever changing energy industry. Through Australia Pacific LNG, its 50:50 incorporated joint venture with ConocoPhillips, Origin is developing Australia's largest CSG to LNG project based on Australia's largest CSG reserves base.
In New Zealand, Origin is the major shareholder in Contact Energy, the country's leading integrated energy company, operating geothermal, thermal and hydro generation facilities and servicing electricity, gas and LPG customers across both the North and South islands. Origin also operates several oil and gas projects in New Zealand and is one of the largest holders of petroleum exploration acreage in the country.
Origin has a strong focus on ensuring the sustainability of its operations, is the largest green energy retailer in Australia and has significant investments in renewable energy technologies.
For more information go to www.originenergy.com.au
Map of Eastern Australia showing the South West Queensland Pipeline and Origin’s gas resources and power generation interests