Summaries - Australian Financial Review
Friday 3/10/2008 Page: 53
AGL Energy has sold its 50 percent interest in Elgas liquefied petroleum gas for $221 million to its partner in the joint venture, The Linde Group. AGL's Michael Fraser said a program of asset sales would provide balance sheet flexibility. The sale follows AGL's recent sale of it Hallett Wind Farm in South Australia and the sale of its 50 percent share in the North Queensland gas pipeline. AGL is also looking to sell its 3.6 percent share in the Exxon-Mobil-controlled Papua New Guinea LNG operation. Goldman Sachs analyst Roy Gilmore expects the market to continue to support AGL in the short term.
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