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Reuters
Reuters
Business

Australia's AGL scraps North Queensland gas assets sale - statement

(Reuters) - AGL Energy on Thursday said it had terminated the sale of its North Queensland gas assets to a consortium of China's Shandong Order Gas and Orient Energy.

Australia's largest energy provider said in a statement that certain conditions for the sale were unable to be satisfied. The sale had been originally announced in August 2017, for an undisclosed figure.

AGL said it would continue to recognise all costs associated with its investment in the assets, and that there would be no changes to its earnings guidance.

(Reporting by Ambar Warrick in Bengaluru)

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