Queensland Project (9547 bytes)
The Tenneco Gas unit of Tenneco Inc. has agreed to head up a $170 million project to lay a large gas pipeline to serve markets in Queensland, Australia.
The 470 mile, 16 in. line is to transport gas from fields in Southwest Queensland to existing distribution systems serving the cities of Brisbane and Gladstone in the southeast part of the state. Supplies carried by Southeast Queensland Pipeline are to replace rapidly depleting reserves used by commercial, residential, and industrial customers.
The new low cost supply is expected to further stimulate Queensland's fast paced economic development, while satisfying regional environmental concerns.
Construction of the Southeast Queensland Pipeline is to begin in June, with gas to begin flowing by yearend 1996. Tenneco Gas is to develop, own, and operate the system, which it plans to use as a base to pursue further opportunities through-out Asia.
Stephen D. Chesebro', Tenneco Gas president and chief executive officer, said the Southeast Queensland Pipeline project, along with two South American projects, establishes Tenneco Gas as a leader in international pipeline and power markets.
"We view the Queensland project as another gateway to the rest of the growing Asian market for natural gas transportation, marketing, and power generation," Chesebro said.
OTHER NON-U.S. PROJECTS
In other international operations, Tenneco Gas is a 25% equity partner in a 750 mile pipeline to link Argentine gas supplies with markets in Chile. The company also is part of a group that last August became a 25% partner in the Brazilian portion of a 2,000 mile Bolivia-to-Brazil gas pipeline project.
In addition, Tenneco Gas was chosen in June 1994 by the Taiwanese government to study the feasibility of a 190 mile gas pipeline and storage project to begin operation in 1997.
Dana G. Mead, Tenneco chairman and chief executive officer, said the $170 million Queensland project is the largest investment in a redeployment program that began in late 1994.
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