The joint venture acquisition includes the 392 km North Queensland Gas Pipeline between Moranbah and Townsville, two gas supply agreements to large industrial customers in Townsville, and a gas tolling agreement for the 230 mega watt Yabulu Power Station in Townsville. Rights to develop the Central Queensland gas pipeline between Moranbah and Gladstone were also acquired under the deal.
Arrow CEO Nick Davies said the acquisition enabled the company to participate in the total coal seam gas value chain from gas production to the end customer.
“The deal effectively creates a mid-size integrated energy company for us in the high growth energy market of the Gladstone to Townsville corridor. It will form the largest integrated gas project of its type in Australia,” he said.
