It is reported that the US company, heavily affected by credit problems and the collapse of the US power-trading market, is also in the process of selling its 50% share in Victoria’s Loy Yang Power station. The Australian Pipeline Trust, the country’s biggest natural gas pipeline investor, has said that is wants to buy CMS’ stake in the Goldfields pipeline, which analysts value at £64-69million. .
The Goldfields pipeline in Western Australia is 88% owned by Southern Cross Pipelines, which in turn is owned by Australian Pipeline Trust (55%) and CMS (45%).
