AGL secures gas storage services
Source: The Australian, 2 Dec 2015
AGL Energy has secured a 15 year agreement for the provision of gas storage services from the Iona gas storage facility, reducing costs by 30% to manage seasonal demand.
THE facility will be owned and operated by a consortium managed by QIC on behalf of its managed clients and funds. This consortium takes ownership of the gas storage assets from Energy Australia on December 1, 2015.
The agreement provides the ability for AGL to optimise its gas supplies by storing gas during low demand periods for re-use during peak demand periods, directly supplying both Victoria and South Australia and indirectly, through its contract portfolio, NSW.