Concentrate On Your Investments

Duke Energy had formed an alliance with GasNet Australia Trust to build the 670km southern gas pipeline. But recently Duke Energy International, a unit of Duke Energy Corp has sold its intellectual property rights for the planned A$250 million Victoria-to-South Australia gas pipeline to TXU Ltd. TXU, which has Australia's largest gas generator at Torrens Island, needs a new gas supply and had previously expressed interest as a potential customer for the southern gas pipeline. Duke Energy pulled out of the southern gas pipeline because it wants to concentrate on its investment in four other Australian gas pipelines, including the current construction of the Tasmanian gas pipeline. But there is nothing to worry because the southern gas pipeline has received planning permits from South Australia and expects to receive approval from Victoria during the next few weeks. It would like to have gas flowing by the end of 2003 ©

&to=http://www.duke-energy.com/decorp/content/Default.asp' target=_blank>Duke Energy