Alcoa to sell pipeline

Alcoa of Australia has agreed to sell its stake in DBP, the owner and operator of the Dampier to Bunbury Natural Gas Pipeline (DBNGP), to DUET Group (DUET) for AU$205 million (~US$154 million).

DBP is currently 20% owned by Alcoa of Australia and 80% by DUET (in aggregate).

As part of the transaction Alcoa of Australia will maintain its current access to approximately 30% of the DBNGP transmission capacity for gas supply to its three alumina refineries in Western Australia.