AGL seeking buyers for Queensland gas assets

AGL is chasing buyers for gas storage and exploration assets in Queensland, according to the Australian Financial Review (AFR).

The AFR’s Street Talk section reports that AGL is looking to offload the Silver Springs gas storage facility in the Surat Basin, the nearby Churchie gas field and some undeveloped discoveries and exploration tenements.

The assets were transferred to AGL following its takeover of Mosaic Oil in 2010.

The AFR reports that the sale is still in the early stages, with confidentiality agreements yet to be signed and an information memorandum still be released.

AGL is said to have hired Highbury Partnership to assist with the asset sale.

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