Orbost Gas Plant deal completed

The Sole Gas Project.

The Sole Gas Project.

Cooper Energy and APA Group have completed the transaction which will see APA acquire, upgrade and operate the Orbost Gas Plant in Victoria.

The transaction is a key component of Cooper’s Sole Gas Project, which will bring a new source of gas supply to south east Australia from 2019.

The agreement also provides for the plant to process gas from Cooper’s adjacent Manta gas field, and potentially other fields.

The expected total cost of the project is $605 million, comprising $250 million for the onshore component and $355 million for the offshore development.

“The Orbost Gas Plant transaction has brought Australia’s largest gas infrastructure company to the Gippsland Basin, which has been the largest supplier of gas to the south east Australian domestic gas market,” said Cooper Managing Director David Maxwell.

“[APA Group’s] involvement has been pivotal to the Sole Gas Project proceeding and Cooper Energy looks forward to working with APA to bring new gas supply to south east Australia.”

Cooper and APA are currently working towards first phase commissioning of the project, beginning in the first quarter of 2019.

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