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Sellers advised on Hunter Gas Pipeline transaction
Global firm Ashurst has advised sellers on Hunter Gas Pipeline (HGP) to Santos NSW (Narrabri Energy), a wholly owned subsidiary of Santos Limited.
Jess Feyder
Firm: Ashurst (HGP).
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Deal: Sellers advised on the sale of Hunter Gas Pipeline to Narrabri Energy.
Value: N/A
Area: Corporate
Key players: The Ashurst team was led by partner Murray Wheater, with assistance from partner Rob Hanley and associate Renee Xue, partner Paul Newman, and partner Sanjay Wavde and counsel Paul Glover.
Deal significance: Santos’ acquisition of the pipeline is a key milestone for the development of the Narrabri Gas Project, which is set to be a major supplier of gas to customers in the eastern states of Australia.
The HGP has received development approval from the NSW government, Queensland government and federal government.
The 833-kilometre pipeline will be constructed between Wallumbilla, Queensland and Newcastle, NSW. The investment needed to build the HGP is estimated at $1.2 billion.
The pipeline will supply gas to the major domestic and industrial markets of NSW, namely the Hunter Region and Sydney Basin.
“We are delighted to have assisted the owners of the Hunter Gas Pipeline with the disposal to Santos — this represents a major milestone for the Narrabri Gas Project and increased gas supply for the east coast of Australia,” said Mr Wheater.
The HGP aims to address NSW’s energy crisis that sees high and increasing gas prices, partially driven by the need to import 95 per cent of gas from other states.
