By OGJ editors
HOUSTON, Mar. 15 -- Australian natural gas company Alinta Ltd. has agreed to buy gas-fired power plants and gas pipelines in Australia and New Zealand from Duke Energy Corp., Charlotte, NC, for $1.24 billion.
The transaction is anticipated to close in the second quarter. The Perth-based Alinta distributes gas across western Australia.
Duke Energy's divestiture includes a total of 485 Mw of generating capacity divided between three plants in Australia and one in New Zealand. The transaction also includes 1,350 miles of pipeline in Australia.
The three pipelines being sold are the Tasmanian Gas Pipeline, the Eastern Gas Pipeline, and the Queensland Gas Pipeline, Duke Energy spokesman Peter Sheffield said.
Duke Energy Chairman and CEO Paul Anderson announced in January that the company was exiting the Asia-Pacific market as part of its goal to sell about $1.5 billion in assets sales in 2004.
