Australia's Galilee Energy jumps on pipeline MoU with APA Group
19/09/2022 06:28
** Shares of Galilee Energy Ltd GLL.AX rise as much as
4.5% to A$0.350, set for their best day since Aug 31, if gains
hold
** Galilee says a non-binding Memorandum of Understanding
(MoU) has been signed with energy infrastructure business firm
APA Group APA.AX related to a potential pipeline project to
connect the Glenaras Gas Project to east coast gas markets
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** Both firms agreed upon the MoU as Galilee progresses
towards maiden gas reserve booking in early 2023
** Galilee stock hits highest level since Sept 5
** Stock down 11.8% this year, as of last close
(Reporting By Udbhav Krishna P in Bengaluru)
((UdbhavKrishna.P@Thomsonreuters.com))