An EnergyAustralia spokesperson recently told The Australian Pipeliner that the company has received a number of unsolicited expressions of interest over the past few months from potential buyers.
APA Group has been flagged as a likely bidder, while AGL Energy has also been rumoured to be in the running in light of its recent strategic review of operations.
“Why is that asset of interest? It’s an infrastructure asset in the energy space; it fits our model; it’s likely to have some secure medium-to-longer-term revenues with high creditworthy counter-parties – it ticks all those boxes,” APA Group Executive Transmission Rob Wheals said.
“The ultimate question through a due-diligence process is do we see the value in it that matches up to what the vendors might be looking for, and we’re still a long way away from being able to determine that.”
Iona Gas Plant supplies gas into the Victorian market via the 144 km, 500 mm South West Pipeline, and into the South Australian market via the 707 km, 350-450 mm South East Australia Gas (SEA Gas) Pipeline.
Located adjacent to the Otway Gas Plant, Iona is connected to the nearby Minerva Gas Plant via the SEA Gas Pipeline.
The plant includes two gas processing trains and compression equipment to process gas from the storage reservoirs and the offshore Casino development.
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