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Queensland Gas Company (ASX:QGC) Will Be Pivotal In Key Development Gas Markets With New 820 KM Pipeline To Create Hub At Heart Of QGCs Acreage
Brisbane, May 27, 2008 (ABN Newswire) - A new gas pipeline from Queensland to New South Wales is to start in the heart of Queensland Gas Company's (ASX:QGC)(PINK:QGSCF) world-class acreage in the Surat Basin, creating a unique and major hub for gas transportation.
The Queensland to Hunter Gas Pipeline (QHGP) is a proposal to construct an underground natural gas pipeline from southern Queensland to Newcastle in NSW.
QGC Managing Director Richard Cottee said the 820 kilometre pipeline when constructed would help to ensure QGC becomes the centre of a major Australian hub for gas markets. It would also transport QGC's coal seam gas from southern Queensland to a new NSW gas-fired power station to be built by a QGC-led consortium.
The original proposal was for the pipeline, a privately funded project, to start at Wallumbilla near Roma. The new proposed route is for the pipeline to start at QGC's Berwyndale South processing plant.
As an emerging gas hub, Berywndale South will also be connected via a 115 kilometre pipeline to Wallumbilla, and to north west Queensland and South Australia.
In addition the emerging hub will be connected via a 380 kilometre pipeline to Gladstone for QGC's Queensland Curtis LNG project being developed in association with BG Group.
"QGC is contributing to the creation of a new landscape for storage and transportation of gas by turning Berwyndale South into a true hub, and having pipelines in all directions,' said Mr Cottee.
"QGC will play a pivotal role in gas transportation between Australia's east coast, and internationally with liquefied natural gas from Gladstone.
"Up to now there has been a missing link between the Queensland and New South Wales gas markets. A new pipeline will make the connection and contribute to the development of the domestic gas market up and down the eastern seaboard.
"Creating this hub and developing gas storage facilities as well as spot-market capabilities will bring additional benefits for QGC, boosting our gas production capacity in the lead-up to supplying the Queensland Curtis LNG project.'
About QUEENSLAND GAS COMPANY LIMITED
QGC is a publicly-listed gas production company that is focused on becoming an integrated energy supplier in Australia. The Company's successful exploration and appraisal activities have provided a solid foundation for future growth, with ample reserves of coal seam gas ready to meet Australia's growing demand for clean, efficient energy.
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