APA Group (ASX: APA) rise on gas shortages

Australia’s leading gas deliverer reports underlying EBITDA up 3.9% to $1,692 million.

“APA has delivered another solid result in a year that has highlighted the critical role that APA’s gas transmission assets play in delivering energy security to Australians when it is needed most.

“Gas power generation and APA’s existing gas infrastructure have stepped up to help fill the electricity supply gap across Australia’s east coast, underscoring the critical role that gas and gas infrastructure will play as the energy transition accelerates, including as the perfect complement to firm renewable generation.”

The company’s share prices is trading at $11.02.