APA finalises QCLNG Pipeline acquisition

Part of the Wallumbilla Gladstone Pipeline (WGP) being lowered.

Part of the Wallumbilla Gladstone Pipeline (WGP) being lowered.

APA Group has completed the acquisition of the Queensland Curtis LNG Pipeline from BG Group for $AU5.9 billion.

The final acquisition price, after the deal was announced in December last year, is $US4.6 billion ($AU5.9 billion) and the first full year earnings before interest, taxes, depreciation and amortisation (EBITDA) is expected to be around $US355 million ($AU431 million).

APA has also renamed the pipeline the Wallumbilla Gladstone Pipeline (WGP) as part of the completion process.

“We are very pleased to have completed this acquisition which extends the footprint of our east coast grid to over 7500 km across eastern Australia and represents APA’s largest ever pipeline acquisition,” said APA Managing Director Mick McCormack.

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