APA MOU to connect the Galilee Basin to Australia’s east coast

Australia’s largest gas infrastructure company, APA Group (ASX:APA) has today announced that it has signed a memorandum of understanding (MOU) with, and Comet Ridge (ASX:COI) and Vintage Energy Ltd (ASX:VEN).

Under the terms of the MOU, APA will undertake a work program to identify a pipeline route to connect the Galilee Basin in Queensland to Australia’s east coast gas markets.

APA’s proposed route to market will also allow for gas to be supplied to the large mining projects planned for the Galilee Basin giving them an alternative to using diesel for their operations.

Vintage Energy says the MOU is further recognition of the potential of the Galilee Basin as a genuine provider of commercial quantities of gas to the east coast of Australia.

Shares in APA Group (ASX:APA) are trading 0.39 per cent lower at $10.10.

Source link Finance News Australia

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