Acquirer(s)
- Origin Energy (Australia) Ltd
Target(s)
- Pangaea ATP 788P Pty Limited
Summary
Origin Energy proposed to acquire exploration permit ATP 788P from Pangaea.Market definition
The ACCC considered that two markets were relevant for the assessment of this matter:- the market for the production and supply of wholesale gas in the southern Queensland region connected by pipeline infrastructure (including Brisbane, Gladstone and Mt Isa); and
- the market for the production and supply of wholesale gas in the southern states (NSW, VIC and SA).
Competition analysis
The ACCC considered that the proposed acquisition was unlikely to result in a substantial lessening of competition in the relevant markets. Factors informing this conclusion included:- the low aggregation of gas reserves which would be held by the merged entity relative to the total gas reserves available for supply by other wholesale gas producers and suppliers in southern Queensland; and
- the existence of several competitors who continue to provide alternative supply options for customers.
Timeline
| Date | Event |
|---|---|
ACCC commenced review under the Merger Review Process Guidelines. |
|
Closing date for submissions from interested parties. |
|
ACCC announced it would not oppose the proposed acquisition. |