Herbert Smith Freehills is advising AGL Energy Limited (AGL) on its recently announced transaction to sell its North Queensland gas assets to a consortium of Shandong Order Gas Co. Ltd. and Orient Energy Pty Ltd.

The assets comprise AGL’s:
    50% interest in the Moranbah Gas Project Joint Venture (MGPJV),
    50% interest in the North Queensland Energy Joint Venture (NQEJV), and
    AGL's participation rights in the ATP1103 exploration licence located in the Bowen Basin.

The transaction is subject to waivers of pre-emptive rights and customary regulatory approvals and third party consents.

The Herbert Smith Freehills team is led by partner Rob Merrick and includes special counsel Jau-Shi Liew, associate Claire Russo, graduate Kai Low, partner Andrew McLean and graduate Jasper Johnson. The team is working closely with AGL’s senior legal counsel, Julia Macdonald.

Rob Merrick said “We have advised AGL in relation to these assets since the company first acquired its interests in the MGPJV in 2006 and the NQEJV in 2007.  It is a pleasure to be involved in this latest chapter.”