Australia’s Central Petroleum, Brisbane, reported on Dec. 22 that it has signed a Gas Supply Agreement (GSA) with Incitec Pivot Ltd. (IPL) for the supply of 0.87 PJ of natural gas in 2024. The GSA is for firm gas supply ex-field (Palm Valley or Mereenie), with take-or-pay provisions and a fixed price. Gas supplied under the GSA will be aggregated with existing Palm Valley gas supply from NZOG and Cue to deliver up to 1.74 PJ of gas to Incitec in 2024.
“We are delighted to extend our relationship with Incitec and continue our supply of gas to eastern Australian markets at this time of market uncertainty and supply shortages,” said Central Managing Director and CEO Leon Devaney.
Central said it expects to bring more gas to market in the future, having increased its production capacity through the commissioning of the Palm Valley 12 well in November 2022 and recent well recompletions at Mereenie.