APA Group (ASX:APA) has entered into a conditional Implementation Agreement (Implementation Agreement) with CK Infrastructure Holdings Limited (CKI), CK Asset Holdings Limited (CKA), Power Assets Holdings Limited (PAH) and CKM Australia Bidco Pty Ltd (Bidder) (CKA, CKI and PAH together the CKI Consortium) under which Bidder (a wholly owned subsidiary of CKA) will acquire all of the stapled securities in APA under trust schemes (Schemes).
APA Group (ASX:APA) today announced it has reached a landmark agreement with Incitec Pivot Limited (ASX: IPL). The contract, which will start on the commencement of commercial operations on the Northern Gas Pipeline, will deliver gas from the Mereenie field in southern Northern Territory, to IPL’s fertiliser plant at Gibson Island, Queensland, through some 3,300km of gas pipelines, the majority of which is APA’s East Coast Grid.
APA (ASX: APA) has received an unsolicited proposal from a consortium led by CK Infrastructure Holdings Limited (CKI), comprising CKI, CK Asset Holdings Limited (CKA) and Power Assets Holdings Limited (together, the Consortium) to acquire all of the stapled securities in APA through trust schemes. The proposal is stated to be indicative and nonbinding.
APA Group (ASX:APA) today announced it has entered into a Development Agreement (DA) and an associated 20 year Gas Transportation Agreement (GTA) with AGL Energy (ASX:AGL) for the development and construction of the Crib Point Pakenham Pipeline. APA’s capital expenditure for the pipeline is currently estimated to be in the range of $160 to $200 million. The transaction is subject to AGL achieving a final investment decision (FID) on the development of an LNG floating storage regasification unit (FSRU) and related offshore facilities during FY2019. If the AGL project proceeds, first gas delivery into the domestic market is expected during FY2021.
APA Group (ASX:APA) today announced its estimated final distribution of 24 cents per stapled security for the six months ending 30 June 2018.
APA Group (ASX:APA), Australia’s leading energy infrastructure business, today announced an extension to the existing Power Purchase Agreement (“PPA”) with Alinta Energy for the Badgingarra Wind Farm, to include a 17.5MW solar farm. Both projects are expected to be commissioned in early 2019. The combined wind and solar PPA will extend the original 12 year PPA by an additional 5 years to 2035. Alinta Energy will purchase all of the energy and the Large-scale Renewable Generation Certificates generated by both energy sources. Financial close of the solar farm project is expected within the next few months and is subject to finalisation of variations to the transmission connection agreement with Western Power to cater for the solar farm offtake.
APA Group (ASX:APA), Australia’s leading energy infrastructure business, today announced it has signed an extension to an existing East Coast Grid gas transportation agreement (GTA). The terms of the extension are consistent with the expiring GTA terms and APA’s current pricing methodologies. The contract extension provides for southerly services on APA’s East Coast Grid for an additional two years when the existing contract expires on 31 December 2018. The extension is expected to generate approximately $38 million of revenue over the two year period and also includes a further one year extension option.