OPERATIONS

Victorian Govt gives BassGas the OK

The $400 million BassGas Project now awaits only approval from the Federal Environment Minister, David Kemp, after the Victorian Government this week gave the project the all clear to proceed.

The BassGas project would develop the Yolla Gas Field in the Bass Strait, bringing gas onshore to Victoria through a 150km underwater pipeline. The gas would then be processed for sale for the Victoria market.

Joint venture partners - Origin Energy, Australian Worldwide Exploration, CalEnergy and Santos - said the fields contained enough natural gas to provide up to 10 per cent of Victoria's current gas demand for 15 years.

Sales from gas production in Yolla should begin in the third quarter of 2004.

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