Herbert Smith Freehills has advised long-standing client, Origin Energy on its agreement to sell the Mortlake Pipeline to SEA Gas Mortlake for A$245 million.
The Mortlake Pipeline, which is currently operated by a related party of SEA Gas Mortlake, supplies gas to Origin’s 550 MW gas-fired Mortlake Power Station in Victoria. Origin has secured long-term gas transportation and storage services on the pipeline from SEA Gas Mortlake as part of the sale transaction.
The sale of the Mortlake Pipeline is one of a series of asset sales by Origin Energy as part of an asset divestment program announced in September 2015. Herbert Smith Freehills had previously assisted Origin Energy on its A$110 million divestment of the Mortlake Terminal Station.
The Herbert Smith Freehills team was led by partner Rob Merrick, with support from senior associate Michael Boyce and solicitor Sophie Mony de Kerloy. The Herbert Smith Freehills team worked closely with Origin Energy’s in-house legal team throughout the transaction.
Rob Merrick commented: “We are pleased to be providing ongoing assistance to Origin Energy with its asset divestment process. The successful execution of this deal continues to strengthen our relationship with Origin Energy.”
Origin was also advised by the Bank of America Merrill Lynch. SEA Gas Mortlake was advised by King and Wood Mallesons.
