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The investment is expected to enable additional capacity in the Victorian transmission system ahead of gas supply shortfalls highlighted by the Australian Energy Market Operator.
Central Petroleum Limited (ASX:CTP) (FRA:C9J) (OTCMKTS:CNPTF) welcomes the Federal Government identifying Project Range as a priority gas infrastructure project to receive a targeted grant in the Federal Budget as part of the National Gas Infrastructure Plan released last November.
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 transmiss...
The grant is to be awarded to APA Group to accelerate the provision of gas infrastructure to support Project Range with a focus on pre-FID activities.
The energy infrastructure company had recognised a non-cash impairment of A$249.3mn last year.