AGL pulls out of coal seam gas across Australia, leaving farmers ‘ecstatic’

Energy company cites low oil prices for decision to cease exploration and wind down or sell its gas fields, with CSG opponents calling the move a well-earned victory

AGL is pulling out of coal seam gas in Australia, ceasing its exploration and winding down or selling its operational gas fields.

Plummeting oil and gas prices were cited by AGL as one of the main reasons for the decision in its announcement to the ASX on Thursday morning, as well as lower than expected production volumes from one of its fields in NSW.