CSG company a bidder for Anglo projects

Brisbane (Energy Publishing) - Analysts say Australian coal seam gas developer, Westside Corporation, is believed to be close to formalizing a deal to buy into coal projects in Queensland that Anglo Coal wants to unload.

Anglo has confirmed market reports that it wants to offload five projects – three in Queensland’s Surat Basin, one in the New South Wales Hunter Valley and another in the NSW southern coalfields – properties that analysts say could nett Anglo as much as A$500M.

Westside is a survivor of consolidation of control of Queensland CSG projects as a range of companies beef up assets ahead of final investment decisions – due this year and involving a gross of $15B – on no fewer than six proposals to use CSG to start a multi-million-tonnes-a-year export LNG industry.