Queensland Gas Company (QGC)

Shares / Stock Code

QGC

Stock Exchange / Sharemarket

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Queensland Gas Company (QGC) is a leading coal seam gas producer. QGC is actively involved in the exploration, production and supply of onshore gas for domestic use, development of gas-fired power stations and development of LNG for export. QGC listed on the ASX on 28 August, 2000. The company is searching and developing coal seam resources of the Surat basin in South Queensland where it owns majority equity interests in around 7,200 square kilometers of permits. The reserves in the Surat Basin are estimated to provide approximately 20 per cent of the Queensland domestic gas market in 2009. QGC has certified gas reserves in its Berwyndale South and Argyle gas fields. As of August 31, 2007 Berwyndale South production was about 22 per annum and the Company had a share of 1,120 petajoule reserve. Kenya-Argyle was commissioned by QGC and joint venturer, Origin Energy CSG in June 2007, with the commencement of gas supplies to Incitec Pivot Limited (IPL) on July 1, 2007. AGL Energy Ltd. obtained a 27.5% share in QGC on March 2007. QGC acquired SGA (Queensland) Pty Limited, SGAI Pty Limited and Gas Resources Limited on March 5, 2007. QGC and BG Group announced a joint venture of about $8 billion in February 2008, to enable the annual export of 3-4 million tonnes of liquefied natural gas (LNG) for 20 years.

QGC's successful exploration and evaluation activities have provided a solid base for future expansion, with ample reserves of coal seam gas ready to meet Australia's increasing demand for clean, efficient energy.

Queensland Gas Company History

QGC listed on the Australian Stock Exchange in August 2000. Its head office is located in Brisbane.