Ethane Pipeline Income Fund (ASX code EPX)
Ethane Pipeline Income Fund owns the Moomba to Sydney Ethane Pipeline that supplies ethane from the Cooper Basin production facility at Moomba, South Australia to the ethylene plant at Botany owned by the Fund’s sole customer, Qenos Pty Limited. The pipeline, which is the Fund’s only asset, was purpose-built to transport ethane gas from the Cooper Basin gas fields to Qenos, and then later sold with the Product Transportation Agreement in place.
The Fund’s only significant source of revenue is derived from transporting ethane through the pipeline for Qenos pursuant to the Product Transportation Agreement. Qenos, Australia's sole manufacturer of polyethylene, uses ethane as a feedstock in its manufacturing process.
The Fund is not a party to Qenos’ ethane supply arrangements, the terms and conditions of which are confidential and negotiated between Qenos and the Cooper Basin producers.
The Fund is not intended to be a vehicle for assets other than the ethane pipeline.
Ethane Pipeline Income Fund comprises two registered investment schemes:
-Ethane Pipeline Income Trust, and
-Ethane Pipeline Income Financing Trust,
the securities in which are stapled together and traded as Ethane Pipeline Income Fund (EPX) securities on the Australian Securities Exchange.
APA Ethane Limited is the responsible entity of the Ethane Pipeline Income Trust and the Ethane Pipeline Income Financing Trust.