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Business Description: Ethane Pipeline Income Fund (EPX) is engaged in an investment in the Moomba to Sydney Ethane Gas Pipeline infrastructure in Australia through its wholly owned subsidiary, Gorodok Pty Limited. EPX comprises two stapled trusts which are Ethane Pipeline Income Trust and Ethane Pipeline Income Financing Trust. The responsible entity of the fund is APA Ethane Limited.
Strategy Analysis: MIT's principal asset is Gorodok Pty Ltd which owns the Moomba to Sydney Ethane Gas Pipeline. Its source of revenue is from transporting ethane through the Pipeline under the PTA which continues until 2030. The revenue of the Pipeline business is generated pursuant to a Product Transportation Agreement (PTA) between the Pipeline Company and Qenos under which Qenos purchases Pipeline capacity for the transportation of ethane from the Moomba Facility to the Botany Plant. In 2008 Mariner Securities Limited (MSL) sold its remaining units together with the management rights to APA Group. Once ASIC approval is granted, APA Group will assume full Responsible Entity rights on managing the Fund.
The Age 9/12/2013 |
Commerce ministers have capped days of hard negotiations by approving a commercial deal that the World Trade Organisation hailed as a historic boost for the trade body and the world economy.
The Age 9/12/2013 |
The jobs picture in the United States brightened in November as hiring was stronger than expected and the unemployment rate fell to a five-year low, data that increases the likelihood of the Federal Reserve easing its stimulus efforts sooner rather than later.
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