Australia

Duke Energy International moved swiftly to establish significant interests in Australia in 1998:

• Purchased the 389-mile Queensland Pipeline and energy trading and marketing operations from PG&E Corp.;
• Purchased from Broken Hill Proprietary Company Ltd. (BHP) and Westcoast Energy the right to build and operate the Eastern Gas Pipeline, a 500-mile interstate pipeline to be completed in 2000;
• Agreed to purchase from BHP its power business, including 392 MW of power generation facilities, electric transmission facilities, and an 11.8 percent interest in Goldfields Gas Transmission pipeline; and
• Selected by the government of Tasmania to study the feasibility of bringing natural gas to the island state and a resulting opportunity to develop natural gas reserves "from the ground up."