Origin meeting with Darling Downs pipeline buyers

Origin Energy will meet with APA Group, Queensland Investment Corporation (QIC) Ltd and TransAlta this week regarding the sale of Origin’s Darling Downs gas pipelines in Queensland, the Australian Financial Review has reported.

The AFR reports that Origin will seek indicative bids from the interested parties in late November.

The Darling Downs system includes 292 km of gas pipelines in the Surat Basin in Queensland, which supplies the company’s Darling Downs Power Station, as well as the Australia Pacific LNG (APLNG) Project which began exporting LNG in January 2016.

APA Group is Australia’s largest pipeline owner and operator, while QIC Ltd owns the Moomba to Adelaide Gas Pipeline System and Victoria’s Iona Gas Storage facility. Other interested parties include Jemena, and Canadian pipeline owner TransAlta.

Bank of America Merrill Lynch is organising the asset sale on behalf of Origin Energy.

Earlier this year, Origin signed agreements to sell its Victorian Mortlake gas pipeline to SEA Gas Mortlake, and Mortlake terminal station to AusNet Services.

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