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October 31. 2008
Osaka Gas decided today to participate in an Australian gas and power business venture through a consortium with Marubeni Corporation. It was finalized today that the consortium would be equity partners for APA GasNet Australia Investment Limited (GAIL) , a wholly-owned subsidiary of APA Group . By December 2008 , t he consortium will acquire 80.1% of the shares, in which Osaka Gas and Marubeni will respectively hold 30.2% and 49.9%. APA will continue to be a 19.9% shareholder of GAIL.
APA is a major energy company managing gas pipelines, gas processing plants, and gas storage facilities throughout Australia. In recent years, APA has also been penetrating in power generation, power transmission, and gas distribution businesses. Osaka Gas and Marubeni will be taking part in business involving energy-related assets that have been transferred from APA, through investment towards GAIL. GAIL will be operating gas pipelines, power generating facilities, gas processing plants and interconnectors within Australia, and is expected to generate stable revenue for mid- and long-term, based on long-term contracts and regulated rate system. (See below for GAIL assets.)
Osaka Gas and Marubeni, together with APA, will devote to succeeding in GAIL projects, and will contribute to development of the Australian energy industry as they expand business portfolio in Australia.
〔GAIL Assets〕1. | Murraylink (Transmission Line 176km) | ![]() |
2. | Directlink (Transmission Line 63km) | |
3. | Telfer (Gas Pipeline 442km) | |
4. | Nifty (Gas Pipeline 46km) | |
5. | Bonaparte (Gas Pipeline 286km) | |
6. | Wickham Point (Gas Pipeline 13km) | |
7. | Mt Isa (Power Station 32000kw) | |
8. | Daandine (Power Station 27000kw) | |
9. | Kogan North (Gas Processing Facility320,000m3/day) |
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10. | Tipton West(Gas Processing Facility770,000m3/day) |
Name: | APA Group |
Location: | New South Wales, Australia |
Founded: | 2000 |
Business Outline: | Gas pipeline, gas processing plant, gas fired power station, gas storage facility, power transmission line, etc. |
Major Shareholders: | Petronas Australia Pty Ltd 16.70% Lazard Asset Management 6.2% Investors Mutual 4.7% |
Name: | Osaka Gas Co., Ltd. |
Headquarter: | Osaka JAPAN |
President and CEO: | Hiroshi Ozaki |
Capital: | 132 billion yen |
Founded: | April 1897 |
Business Outline: | Distribution of gas , generation and distribution of power , etc. |
Sales: | 1.2 trillion yen (as of March 2008) |
Name: | Marubeni Corporation |
Headquarters: | Tokyo JAPAN |
President and CEO: | Teruo Asada |
Capital: | 262 billion yen |
Founded: | December 1949 |
Business Outline: | General trading company |
Sales: | 10.6 trillion yen (as of March 2008) |
Contact: | |
Osaka Gas Co., Ltd | |
Corporate Communications Dept. , Media Relations Team | |
TEL: 06(6205)4515 | |
Marubeni Corporation | |
Corporate Communications Dept. , Media Relations Section | |
TEL: 03(3282)4260 |