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Another positive announcement today for QGC. AGL has opened the door for QGC to sell into the entire eastern seaboard. You can see why AGL dispensed with the pipeling to PNG as Qld is a lot closer and a more stable environment to opertate out of.
ASX release below .
QGC Welcomes New Interstate Gas Pipeline Link
Queensland Gas Company (QGC) welcomes today's announcement by Epic and AGL
that a new gas pipeline through Moomba will be constructed, linking the pipeline systems
of Queensland and the southern states.
"With a marketing agreement already in place between QGC and AGL, it will open up
opportunities for QGC to sell coal seam gas (CSG) into the higher priced southern
markets", QGC Managing Director Richard Cottee said today.
"This link between the two systems will mark the commencement of a truly national gas
market; and in the case of QGC, this will provide enhanced opportunities to further
develop the Undulla Nose near Chinchilla", Mr Cottee said.
"Further infrastructure enhancement is bound to follow as the merits of clean and efficient
natural gas becomes more widely recognised - and this will be a natural consequence of
the realisation that action must be taken to contain greenhouse gas emissions," Mr Cottee
said.
"QGC is ideally positioned to take full advantage of these exciting developments through
the development of its untapped gas reserves and through its marketing agreement with
AGL. There is no doubt that Queensland coal seam gas will make up the bulk of the
shortfall on the Australian eastern seaboard likely through 2010 to 2012 through the
abandonment of PNG gas pipeline proposal; and I am confident that QGC will be in the
forefront of the beneficiaries", Mr Cottee said.
ASX release below .
QGC Welcomes New Interstate Gas Pipeline Link
Queensland Gas Company (QGC) welcomes today's announcement by Epic and AGL
that a new gas pipeline through Moomba will be constructed, linking the pipeline systems
of Queensland and the southern states.
"With a marketing agreement already in place between QGC and AGL, it will open up
opportunities for QGC to sell coal seam gas (CSG) into the higher priced southern
markets", QGC Managing Director Richard Cottee said today.
"This link between the two systems will mark the commencement of a truly national gas
market; and in the case of QGC, this will provide enhanced opportunities to further
develop the Undulla Nose near Chinchilla", Mr Cottee said.
"Further infrastructure enhancement is bound to follow as the merits of clean and efficient
natural gas becomes more widely recognised - and this will be a natural consequence of
the realisation that action must be taken to contain greenhouse gas emissions," Mr Cottee
said.
"QGC is ideally positioned to take full advantage of these exciting developments through
the development of its untapped gas reserves and through its marketing agreement with
AGL. There is no doubt that Queensland coal seam gas will make up the bulk of the
shortfall on the Australian eastern seaboard likely through 2010 to 2012 through the
abandonment of PNG gas pipeline proposal; and I am confident that QGC will be in the
forefront of the beneficiaries", Mr Cottee said.