Gas pipeline major APA Group has signed an initial agreement with Cooper Energy to acquire and upgrade the Orbost gas processing plant in Victoria's Gippsland region.
APA will acquire the plant from Cooper at cost and then fund capital expenditure for its expansion and upgrade, expected to be $250 million.
The deal will leave Cooper free to develop the offshore Sole gas field, and the two companies will sign a gas processing agreement for supply of that gas to the Orbost plant.
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