Sydney Gas retains LA bank for studyFebruary 4, 2005 -...

Sydney Gas retains LA bank for study
February 4, 2005 - 7:04AM

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Sydney Gas Ltd has said it has engaged a Los Angeles-based merchant bank to help with a feasibility study into electricity and liquefied natural gas opportunities in NSW's Hunter Valley.

An earlier in-house study identified a large gas resource ready for commercialisation, Sydney Gas said.

Chief executive Bruce Butcher said Sydney Gas has been working with merchant bank Cappello Group Inc for a number of months and wanted to benefit from its knowledge and experience of the energy sector in California.

"It is expected that the results from this feasibility study will broaden the range of options that Sydney Gas has to commercialise its operations within the Hunter Gas Project and exploit the very large gas resource that we have identified there," Dr Butcher said.

The Hunter gas project is expected to be developed over the next five years and produce up to 40 petajoules of gas per year to the Muswellbrook-Singleton and Newcastle regions over the next 15 to 20 years.