Central Petroleum Limited Stock Market Press Releases and Company Profile

View in Other Languages توقع Central Petroleum Limited ASX:CTP اتفاقية جديدة لتوريد غاز NT لما يصل إلى 3.15 PJs Central Petroleum Limited (ASX:CTP) Signs New NT Gas Supply Agreement for up to 3.15 PJs Central Petroleum Limited (ASX:CTP) Assina Novo Contrato de Fornecimento de Gás NT para até 3,15 PJs Central Petroleum Limited (ASX:CTP) unterzeichnet neuen NT-Gasliefervertrag über bis zu 3,15 PJ Central Petroleum Limited (ASX:CTP) 簽署新的 NT 天然氣供應協議,最多可供應 3.15 PJ Central Petroleum Limited (ASX:CTP) 签署新的 NT 天然气供应协议,最多可供应 3.15 PJ Central Petroleum Limited (ASX:CTP) Menandatangani Perjanjian Pasokan Gas NT Baru hingga 3,15 PJs Central Petroleum Limited (ASX:CTP) firma un nuevo acuerdo de suministro de gas NT por hasta 3,15 PJ Central Petroleum Limited (ASX:CTP) signe un nouvel accord de fourniture de gaz NT pour un maximum de 3,15 PJ Central Petroleum Limited (ASX:CTP), 최대 3.15 PJ에 대한 새로운 NT 가스 공급 계약 체결 Central Petroleum Limited(ASX:CTP)が最大3.15PJの新しいNTガス供給契約に署名 Central Petroleum Limited (ASX:CTP) ลงนามในสัญญา NT Gas Supply ฉบับใหม่ สูงสุด 3.15 PJs Central Petroleum Limited (ASX:CTP) подписывает новое соглашение о поставке газа NT на сумму до 3,15 PJs 
Signs new NT Gas Supply Agreement for up to 3.15 PJs
Signs new NT Gas Supply Agreement for up to 3.15 PJs

Brisbane, Nov 29, 2021 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) (googlechartC9J:FRA) (googlechartCNPTF:OTCMKTS), through a wholly owned subsidiary, has executed a new gas supply agreement ("GSA") for supply of up to 3.15 Petajoules (PJs) of gas to the Northern Territory's Power and Water Corporation ("PWC") via a back-to-back GSA with Macquarie Mereenie Pty Limited ("MM").

Central's gas will be aggregated with existing Mereenie gas supply owned by MM, NZOG Mereenie Pty Ltd ("NZOG") and Cue Mereenie Pty Ltd ("Cue"), to supply a total of 12.6 PJs to PWC.

The gas is to be supplied over a four-year term commencing 1 January 2022, commercialising a portion of the increased production recently brought online following the 2021 Mereenie development campaign.

The GSA is for firm gas supply, with take-or-pay provisions and a fixed price subject to annual CPI escalation.

Pricing reflects strong market conditions and is expected to improve Central's average realised ex-field portfolio gas price over the next 4 years.

New Gas Supply Agreement

Central today announces a new GSA has been executed with MM for up to 3.15 PJs of 'firm' gas supply over four years, commencing 1 January 2022. The GSA is for firm gas supply, with take-or-pay provisions and a fixed price subject to annual CPI escalation. The GSA commercialises a portion of the increased production brought online following the 2021 Mereenie development campaign, which saw two new production wells drilled and four existing wells recompleted.

Gas supplied under the GSA will be aggregated with existing Mereenie gas supply from MM, NZOG and Cue in order to deliver up to a total of 12.6 PJs to PWC over the four-year term.

The GSA has been structured as a separately marketed back-to-back GSA with MM in support of a master GSA which has been entered first between MM and PWC as the end customer.

Central looks forward to joint marketing authorisation by the ACCC in the near future to facilitate greater volumes being supplied from the Mereenie field.

Ex-field pricing under the GSA reflects strong market conditions and is expected to have a positive impact on Central's average portfolio gas price over the next 4 years. No gas transportation is required under the GSA as Central will deliver gas directly into the Amadeus Gas Pipeline from either the Mereenie or Palm Valley delivery points.

Central is continuing marketing additional gas for sale from 2022.


About Central Petroleum Limited

Central Petroleum LimitedCentral Petroleum Limited (ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.

Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.

We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.

abnnewswire.com 


Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



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