TGT supplies around 25 petajoules per year of South Australia’s wholesale gas requirements to various power generation customers via the Moomba-to-Adelaide pipeline.
AGL managing director Greg Martin said TGT was a strategic bolt-on acquisition that would complement AGL’s wholesale gas arrangements and give the company an additional revenue stream.
"TGT’s portfolio of gas and transportation contracts enhances AGL’s existing wholesale gas arrangements creating additional opportunities to supply gas to South Australia and New South Wales," Martin said.
"This acquisition is consistent with AGL’s strategy of optimising opportunities across the energy chain to enhance our existing platform of businesses."
Martin said that the acquisition would add to AGL’s presence as an electricity and gas supplier in the SA energy market.
