Diversified miner South32 has secured gas for its Cannington base metals operation, in Queensland, extending gas supply agreements with ASX-listed Central Petroleum and New Zealand Oil and Gas. New Zealand Oil & Gas on Thursday announced that it would extend its current gas supply agreement with Cannington by another 12 months from the Mareenie joint venture (JV), which also includes Macquarie Mareenie, Central Petroleum and Cue Mareenie.
PERTH – Diversified miner South32 has secured gas for its Cannington base metals operation, in Queensland, extending gas supply agreements with ASX-listed Central Petroleum and New Zealand Oil and Gas.
New Zealand Oil & Gas on Thursday announced that it would extend its current gas supply agreement with Cannington by another 12 months from the Mareenie joint venture , which also includes Macquarie Mareenie, Central Petroleum and Cue Mareenie.The gas sales agreement is for firm gas supply, with take-or-pay provisions and at a fixed price. Pricing for the gas has been renegotiated and reflected the strong market conditions.
“We are delighted to extend our relationship with South32 and continue our supply of gas to eastern Australian markets at this time of market uncertainty and supply shortages,” said Central Petroleum MD and CEOThe extension of the gas sales agreement is conditional on transportation agreements being finalised by the end of June next year.
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