APA buys further stake in SEA pipeline

APA Group has increased its interest in the SEA gas pipeline with the acquisition of a 16.7% interest from International Power for $46.3 million as part of its strategy of owning, operating and managing energy infrastructure assets in Australia.

In June 2007, the company acquired a one-third interest in the SEA gas pipeline from Origin Energy and has now decided to exercise its pre-emptive right over part of International Power's interest.

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