APA Group
(ASX:APA) has inked a new seven-year gas transportation agreement to further expand its Victoria-New South Wales Interconnect.
Australia’s largest natural gas infrastructure business says the new multi-service gas deal will support further capacity expansion.
APA advises the total cost of the expansion is expected to be about $85 million and construction is slated for completion in the middle of next year.
Managing Director Mick McCormack says the deal is a result of APA working with its customers to connect their gas resources to the markets.
APA Group reported a net profit of $467 million in the first half of the 2015 financial year.
