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Origin Energy Lifts Asset Divestments to $1bn

19 May 2017  |  09:17:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Origin lifts asset divestments to $1 billion

Origin Energy announced that it has entered into an agreement with Jemena Gas Pipelines Holdings for the sale of Darling Downs Pipeline Network for $392m. The transaction lifts sales from the Company's asset divestment program announced in September 2015 to $1bn, considerably higher than the original $800m target. Under the terms of the sale agreement, the Company has secured gas transportation services on the pipeline network for periods ranging from 10 to around 30 years. Assets sold as part of the Company's announced divestment program included Mortlake Terminal Station, Mortlake Gas Pipeline, Cullerin Range Wind Farm, Stockyard Hill Wind Farm project and Company's 50% interest in OTP Geothermal.

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