Australian Pipeline Trust to buy Aussie pipeline systems from CMS Energy

By OGJ editors

HOUSTON, July 30 -- The Australian Pipeline Trust (APT) has signed a sale agreement with CMS Energy Corp. to acquire the integrated energy firm's interests in the Parmelia and Goldfields pipeline systems in Western Australia for about $208 million (Aus.) ($145 million).

CMS Energy is the sole owner of the 260 mile Parmelia pipeline system and holds a 39.7% ownership interest in the 860 mile Goldfields system. APT currently owns 48.5% of Goldfields.

The sale, which is expected to close during third quarter, is CMS Energy's second major asset sale in Australia this year. In April, CMS Energy and its partners sold the 2,000 Mw Loy Yang power plant and adjacent coal mine in Victoria to an international consortium.