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AGL to sell NQ gas assets
Herbert Smith Freehills has advised AGL Energy Limited on the impending sale of its North Queensland gas assets to a consortium.
Emma Musgrave
Firms: Herbert Smith Freehills (AGL Energy Limited); Undisclosed (consortium of Shandong Order Gas Co. Ltd. and Orient Energy Pty Ltd)
Value: Undisclosed
Area: M&A
Key players: The legal team advising AGL is led by Herbert Smith Freehills partner Rob Merrick and includes special counsel Jau-Shi Liew, associate Claire Russo, graduate Kai Low, partner Andrew McLean and graduate Jasper Johnson.
The team is working closely with AGL’s senior legal counsel Julia Macdonald.
Deal significance: According to a statement from Herbert Smith Freehills, the assets comprise AGL’s 50 per cent interest in the Moranbah Gas Project Joint Venture (MGPJV), 50 per cent interest in the North Queensland Energy Joint Venture (NQEJV), and AGL’s participation rights in the ATP1103 exploration licence located in the Bowen Basin.
The transaction is subject to waivers of pre-emptive rights and customary regulatory approvals and third-party consents, the firm said.
Commenting on the deal, Herbert Smith Freehills partner Rob Merrick said: “We have advised AGL in relation to these assets since the company first acquired its interests in the MGPJV in 2006 and the NQEJV in 2007”.
“It is a pleasure to be involved in this latest chapter,” he said.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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