AGL Energy, the largest Australian power company whose plans for an LNG import terminal in the state of Victoria were thwarted by regulators and which fought off takeover interest from various quarters, saw its shares tumble 10 percent after very disappointing results and doubts on strategy.

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AGL Energy, the leading Australian gas and power supplier forced to cease any further development of the proposed Crib Point LNG import project in the southern state of Victoria, has signed pipeline natural gas supply agreements with Cooper Energy.

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Leading Australian gas and power supplier AGL Energy with LNG import plans for south Australia has decided to split into two companies, one holding the assets of the retail electricity and gas business and another owning the infrastructure such as power plants.

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Australia's AGL Energy has pushed its case for regulatory approval for its liquefied natural gas import project at Crib Point in southeast Australian in the largest ever environmental assessment inquiry held in the state of Victoria.

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AGL Energy of Australia has pledged at the annual meeting to pursue the Crib Point LNG project on Westernport Bay, south of Melbourne in the state of Victoria as one of the vital tools in the cleaner energy transition.

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