APA Group, Cooper Group sign deal for sale of Orbost Gas Processing Plant (OGPP)

APA Group has entered into an agreement with Cooper Energy Limited for the sale of the Orbost Gas Processing Plant (OGPP) for between AUD270 million (US$186.86 million) and AUD330 million (US$228.39 million) in four installments. 

The gas processing plant has been in operation since March 2020 in Orbost, Victoria, Australia. The Orbost plant´s gas-to-market delivery point is the Eastern Gas Pipeline. The OGPP has a 45-day average processing rate of 53 TJ per day. 

The first post-completion payment of AUD40 million (US$27.68 million) is to be completed within 12 months after the closing of the transaction. The second and third post-completion payments are subject to post-completion plant performance and will be calculated at the point when APA ceases operating the OGPP.