Acquisition of gas production capacity

During the past year, AGL has made a number of acquisitions which have added significant quantities of gas to the AGL portfolio. These include:

• AGL acquired a 27.5% equity stake in the Queensland Gas Company, one of the largest coal-seam methane producers in Australia. This provides AGL with an additional 258 PJ of equity gas. The acquisition also included a 540 PJ gas supply contract.

• AGL acquired a 35% equity stake in the company CSM Energy. The company is an unlisted company which focuses on coal mine methane extraction and commercialisation.
• AGL completed the purchase of a 50% joint venture interest in Queensland's Moranbah Gas Project.

In addition to acquisitions, AGL also provided the foundation support for the construction of the QSN pipeline which, when completed, will provide the final link between gas markets throughout south-east Australia.

Gas production activities

In addition to the acquisitions made during the past year, AGL has increased its reserves and production capacity through the various investments made to date. In total, AGL has 837 PJ of equity gas reserves and 3,320 PJ of gas under contract. During the past year, the Camden Gas Project JV in which AGL has a 50% interest in was granted a new 21-year gas production lease by the NSW Government. There are now four production leases covering the current and future operations of the Camden Gas Project

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