Origin postpones Darling Downs sale

Origin’s sale of its Darling Downs pipeline infrastructure has been postponed again according to the Australian Financial Review (AFR).

The AFR reports that an information memorandum was due on Monday but has been delayed for another fortnight.

Potential bidders are now expecting to receive sale documents in early December.

This now means that the final offers are not due until April.

Interested companies in the two pipelines in Queensland are rumoured to be QIC Limited, APA Group, TransAlta and Jemena.

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.

The AFR reports that Origin is expecting make between $300–400 million on the sale.

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