Our profile
Organisational Structure
At the annual meeting of APA in October 2004, securityholders approved changes to the Australian Pipeline Trust (APT) constitution to enable APA to staple securities of another entity to APT units.
Historically APT was a taxpaying public trading trust, with securityholders generally receiving after-tax distributions of income together with periodic returns of capital.
In December 2006, APT Investment Trust (APTIT) was stapled to APT to act as a passthrough trust for tax purposes. A passthrough trust is not required to pay tax on its income and as a result distributions are made pre-tax. Distributions in excess of taxable income resulting from tax timing differences can also be passed through to securityholders as tax deferred income. APTIT is therefore generally able to make higher cash distributions out of the income it receives and also return capital on which tax is deferred until units are sold.
APA believes that the stapled structure allows maximum distribution flexibility to securityholders allowing them to obtain higher cash distributions than would otherwise be the case.
Principal Activities
APA’s principal activities relate to the ownership, management and operation of natural gas transmission and distribution assets across Australia.
Energy infrastructure
APA has an interest in approximately 12,000 km of high pressure gas transmission pipelines across mainland Australia, transporting more than half of the natural gas used in Australia annually.
APA owns gas distribution networks in Queensland and New South Wales. APA's gas networks supply over 70,000 gas users in Brisbane, the Gold Coast, Oakey, and Toowoomba in Queensland, and Tamworth in New South Wales. APA has over 2,800 km of distribution mains. APA also owns the Mondarra Gas Storage Facility in Western Australia, and the Dandenong LNG Storage Facility in Victoria.
APA manages and operates all its gas transmission and distribution assets.
Energy investments
APA has minority interests in the following companies:
Envestra Limited (30.4%) - ASX-listed gas distribution company
Ethane Pipeline Fund (6.1%) - ASX-listed ethane pipeline company
Energy Infrastructure Investments (19.9%) - unlisted energy infrastructure company
APA operates and maintains the assets of these companies.
Asset management
APA provides asset operating and maintenance services to Envestra under a long term agreement.
APA provides both commercial and operating services to Ethane Pipeline Fund and Energy Investments Infrastructure under a long term agreement.