asx release gas sales commence

RWE 11:02:00 7051 16/12/2004 (AESGL) Sydney Gas delivers first sales gas to AGL
RWE News
11:02:020 16/12/2004
Sydney - Thursday - Dec 16: (RWE Australian Business News) -
Sydney Gas Ltd reports its Rosalind Park Gas Plant at Campbelltown has
been successfully commissioned with first sales gas delivered to AGL
from Stage II of the Camden Gas Project within budget and more than two
weeks ahead of schedule.
The integrated field and automated plant control system, being
operated from the state-of-the-art control facility at the plant, is now
fully functional.
Gas is flowing through the gas gathering system into the plant,
where it is being dried and pressurised before being sold to AGL via the
500m high-pressure underground steel sales line that connects the plant
to the main gas transmission line.
Chief executive Dr Bruce Butcher said, "As the first commercial
gas producer in NSW, and with two gas plants now up and running, Sydney
Gas is well on the way to becoming operationally cash flow positive.
"The Rosalind Park Gas Plant is sized to supply up to 10 per
cent of the current NSW gas market.
"It will take six months or so for the plant to be running at 12
terajoules (TJ) of gas per day, at which point additional compression
will be added to increase that to up to 40 TJ per day."
Shares in Sydney Gas rose 2c to 95c this morning.
ENDS
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