Bloomberg News

BHP, Apache Start $1.5 Billion Macedon Gas Project in Australia

September 19, 2013

BHP Billiton Ltd. (BHP), Australia’s largest oil producer, started its $1.5 billion Macedon natural gas project, according to partner Apache Corp. (APA:US)

The development, Western Australia’s fourth domestic gas hub, began operating last month and has production capacity of 200 terajoules a day, Houston-based Apache said in an e-mailed statement. Melbourne-based BHP owns 71.4 percent of Macedon, while Apache owns the rest.

Western Australia faces a gas shortage, with prices tripling since 2005, according to the state’s DomGas Alliance, which represents state users such as Newmont Mining Corp. (NEM:US) and Alcoa Inc. (AA:US)

Apache plans to invest about $1.9 billion in Australia this year, including the Coniston and Balnaves oil projects and the Julimar development, the company said.

To contact the reporter on this story: James Paton in Sydney at jpaton4@bloomberg.net

To contact the editor responsible for this story: Jason Rogers at jrogers73@bloomberg.net


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Companies Mentioned

  • APA
    (Apache Corp)
    • $101.32 USD
    • 0.05
    • 0.05%
  • NEM
    (Newmont Mining Corp)
    • $25.54 USD
    • -0.10
    • -0.39%
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