APA Group (ASX:APA), formerly Australian Pipeline Trust Limited, owns gas transmission pipelines located throughout Australia and a gas distribution network in south east Queensland and northern New South Wales. The Company undertakes the sale of transportation and related services to the producers, consumers and aggregators of gas through these gas transmission and distribution pipelines. In addition, APA owns two coal seam gas (CSG) processing plants, a gas-fired power station, gas storage facilities and two high voltage direct current interconnection systems, including underground transmission cables. APA owns over 12,000 kilometers of gas transmission pipelines and over 21,400 kilometers of gas distribution networks throughout Australia. In February 2007, the Company acquired the DirectLink electricity transmission assets linking the New South Wales and Queensland power grids. In July 2007, the Company completed the acquisition of the Origin Energy Networks assets.
APA Group
ASX:APA ISIN:AU000000APA1
News
In early trade today, the benchmark S&P/ASX200 index had risen as much as 60.8 points, or 1.2%, to 5047.0 with financial stocks leading the way, as the Wall Street lifted more than 302 points on Friday night. Wall Street's rally was a result of a surge in the US dollar and a drop in oil prices, which fell below $US115 a barrel for the first time since May.
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