BG Group seeks control of Origin Energy and its coal seam gas supplies ...
British company BG Group (formerly British Gas) has expressed an intention to take over Origin Energy, the company that bought some of the privatised Qld government power assets.
See - Origin Energy press release.
Origin Energy has vast reserves of coal seam gas and the accompanying coal seam gas water and is building the Spring Gully power station and the Darling Downs power station.
BG Group recently agreed a deal with Qld Gas Company to build a LNG plant at Gladstone which is expected to dramatically increase the demand for coal seam gas and increase the amount of coal seam gas water available for other uses.
Queensland - beautiful one day, more coal seam gas water than it knows what to do with the next ...
posted by Concerned Ratepayer at 9:06 AM
1 Comments:
The Chronicle:
British energy giant in Origin takeover bid
May 02, 2008
British energy giant BG Group has made a bid for Origin Energy.
DALBY Regional Council mayor Ray Brown is not surprised that the gas-rich Surat Basin has attracted the attention of a British energy giant.
Queensland Premier Anna Bligh announced British company BG Group's $13 billion takeover bid in parliament on Wednesday.
"Queensland's rapidly-developing coal seam gas industry, underpinned by my Government's innovative Gas Scheme, continues to prosper," Ms Bligh said.
"This is clearly evidenced yesterday with British energy giant BG Group's unsolicited $13 billion takeover bid for Origin Energy - Australia's second-biggest energy retailer. Origin is reported to have Queensland's largest coal seam methane reserves."
Cr Brown said it was an exciting time to lead the Dalby Regional Council and that he is already noticing positive affects from the region's gas reserves such as land values in Dalby, Miles and Charleville rising; motels and caravan parks booked out by mining workers and a new yet untapped source of waste water.
However he said the boom is not without its challenges too.
"We have to plan to draw a balance between lifestyle and the economy," Cr Brown said.
Ms Bligh estimated that by 2030 the population in the Surat Energy Resources Province a rectangular area from Toowoomba past Roma, and north to almost Theodore is predicted to reach 260,000. The Surat Basin gas industry is expected to create an extra 16,000 fulltime jobs by 2030.
10:19 AM, May 02, 2008
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