AGL Energy Won't Exercise Option To Buy BG Assets
April 14 2009 - 7:39PM
Dow Jones News
AGL Energy Ltd. (AGK.AU) said Wednesday it won't exercise an
option to acquire A$1 billion worth of coal seam gas and power
generation assets from BG Group PLC (BG.LN).
The integrated energy company said in a statement it was
comfortable its strategic target of securing 2,000 petajoules of
equity gas can be achieved from recent acquisitions.
AGL in October gained the option to purchase the assets, which
include CSG fields in Queensland and the Condamine Power Station,
also in Queensland, when it agreed to sell its holding in
Queensland Gas Company Ltd. into BG's takeover of that company.
By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957;
ross.kelly@dowjones.com
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