AGL Energy Ltd announced on 25 August 2017 that it had reached an agreement to sell its northern Queensland gas assets to a consortium of Shandong Order Gas Co Ltd and Orient Energy Pty Ltd.Â  AGL reported that the assets included in the deal would be the Moranbah Gas Project and North Queensland Joint Venture, in which it holds 50% interest, and AGLâs 99% participation rights in ATP 1103-P.Â  The deal remained awaiting approval, and final registration by the Queensland State Government, as of August 2018.  Arrow Energy Ltd is a joint venture partner in all AGLâs holdings and therefore has pre-emptive rights in all assets.Â  Arrow must waive its rights before the deal between AGL, Shandong and Orient can be finalised.Â  Further approvals would also be required for the deal to be completed, and would include those from the Australian and Chinese regulatory authorities.  If the deal is finalised and completed, it would be Shandongâs, a Chinese gas distribution company, first holdings in Australia.  AGL had previously reported, in February 2016, that it was looking to sell its Queensland exploration and production assets, after a strategic review had resulted in the decision that exploration and production would no longer form part of the companyâs core business.Â  Exploration and production assets in New South Wales were also outlined for divestment or relinquishment as part of the process.
Consortium of Shandong Order Gas and Orient Energy has agreed to buy 99% non op. interest from AGL Energy (->0% CH4 Pty. 0,7% op, 0,3% Arrow) in ATP 1103-P block. 