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South32 secures more gas for Cannington

21st September 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Diversified miner South32 has secured gas for its Cannington base metals operation, in Queensland, extending gas supply agreements (GSAs) with ASX-listed Central Petroleum and New Zealand Oil and Gas.

New Zealand Oil & Gas on Thursday announced that it would extend its current GSA with Cannington by another 12 months from the Mareenie joint venture (JV), which also includes Macquarie Mareenie, Central Petroleum and Cue Mareenie.

Up to a total of 146 PJ of gas will be supplied from the Mareenie JV to South32 in 2025.

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 CEO Leon Devaney.

The extension of the GSA is conditional on transportation agreements being finalised by the end of June next year.

Edited by Creamer Media Reporter

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