Total revenue for Queensland Gas Company (QGC) in its second full year as a producer increased by 135% to A$81.1 million with gas sales revenue more than doubling to A$55.1 million from sales of 22.1 peta-joules (PJ) compared with A$27 million and 11.5PJ in fiscal 2007.
Total revenue for QGC in the financial year was further boosted by A$22.9 million in interest from QGC’s cash at bank. The company received A$664 million from BG Group in April 2008 on completion of two key transactions related to the joint Queensland Curtis LNG Project.
EBITDA increased by 543% to A$31.5 million, compared with A$4.9 million in fiscal 2007. The company reported an underlying net profit after tax of $30.6 million for fiscal 2008.
Richard Cottee, managing director of QGC, said: We have enjoyed a year of remarkable growth across every measure at a time when domestic and international demand for cleaner sources of energy is driving massive investment in the sector.
