AGL - ASX share code AGK
A new front has opened in community opposition to
coal seam gas expansion in the Lower Hunter.
A residents’ meeting in
Wollombi on the 30 November 2013
voted to begin gauging support for the area to become part of the
Gasfield-Free community movement, that’s already established in
other NSW regional centres.
The movement is backed by the
Lock the Gate Alliance, whose Hunter regional co-ordinator Steve
Phillips urged the residents to continue “organised resistance” to
the coal seam gas industry.
The area between Wollombi and Bucketty neighbours
AGL’s contentious operations in the Broke-Fordwich wine tourism
Sydney Gas, which was bought
out by AGL, established exploration wells in the Wollombi area about
10 years ago but ceased activities following vocal community
opposition and further assessments.
Mr Phillips told the meeting on Saturday
(November 30) it was the right time to build opposition to the
industry while there was a lull in the company’s activities.
“Then you can mobilise the community very fast
when the time comes,” Mr Phillips said.
“The (gas) industry has struggled to gain a
foothold in NSW because of organised community resistance.
“It has no social licence to be
in this state.” Mr Phillips said the coal seam gas industry had “big
plans” for NSW.
“They have not been realised,” he said.
Mr Phillips used the example of the withdrawal of
Dart Energy from operations near Newcastle after strong community
The residents said they would
call a public meeting early in the new year to mark the formal
beginning of the Gasfield-Free campaign.
The villages of Wollombi and Laguna are covered
by AGL’s petroleum exploration licence (PEL) 267, which covers a
large swathe of the Hunter Valley. The company has met strong
opposition from vignerons in the Broke area.
Several years ago AGL bought the famous Poole’s
Rock vineyard near Broke and insists the gas industry can co-exist
Opposition to the industry in the Wollombi/Laguna area was led by
the Wollombi Valley Against Gas Extraction, or WAGE, group but the
organisation has waned since exploration withdrew.
AGL Energy Limited is a retail seller of 'natural
gas' (methane) to consumers in Australia.
AGL is seeking to frack Gloucester,
the Hunter Valley
and Camden and the
Galilee Basin and
AGL buys and sells
methane which it markets as "natural gas", electricity and energy-related
products and services to residential and business customers;
constructs and/or operates power generation and energy processing
infrastructure; develops and operates "natural gas" production and
storage facilities; and explores, extracts, produces, and sells coal seam gas.
The company invests in, explores, develops, and produces gas
tenements; develops and operates gas storage facilities; sells and
installs solar power systems; and energy services advisory services.
also provides energy efficiency
and carbon management services.
AGL does consultation, design, and
implementation of infrastructure projects, as well as asset
development; and design, manufacture, and distribution of new and
reconditioned steam boilers, commercial and industrial hot and warm
water boilers, condensing heaters, and thermal oil boilers.
AGL Energy generates electricity from thermal,
hydro, wind, landfill gas, biomass, geothermal, bagasse, biogas, and
photovoltaic sources with owned or contracted electricity generation
capacity of 5,847 MW; has 1,729 PJ of 2P gas reserves; and retails
electricity to 2.1 million customers and gas to 1.4 million
customers in Victoria,
Queensland, and New South Wales.
|AGL Energy Limited
101 Miller Street
North Sydney, NSW 2060
Phone: 61 2 9921 2999
Michael Anthony Fraser BCom, CPA, FTIA,
Chief Executive Officer, Managing Director and Executive Director 3.50M
Mr. Brett Redman Bcom, Fca, Gaicd,
Chief Financial Officer 842.00K
Mr. Michael Patrick Moraza BE (Chem. Eng.) MBA,
Group General Manger of Upstream Gas 841.00K
Mr. Stephen John Mikkelsen BBS, CA,
Group General Manger of Retail Energy 1.25M
Mr. Anthony Fowler BSc (Hons), MAppFin, Harvard AMP, FFin, Group General Manger of Merchant Energy 1.18M
2012/13 coal seam gas losses for AGL
30 August 2013 - AGL wrote down
the value of Gloucester
and Hunter Valley coal seam
gas exploration projects by almost $200 million during the financial
AGL's 2013 financial report
released this week shows the book value of their Hunter gas project
was slashed from more than $200 million to just $10 million, while
Gloucester was devalued by over $100 million.
The company was approved to
frack 110 wells in the Gloucester basin during the last days of the
NSW Labor government.
AGL is still engaged in a
community fight with Hunter Valley vineyards and horse studs over
its Hunter gas project.
Some of AGL's competitors
privately worry that pursuing coal seam gas projects in
substantially populated areas could damage support for the entire
AGL 5 year chart retrieved 30 November 2013
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