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.
The sale is expected to close in early April.