Senex secures more offtake at Project Atlas
PERTH (miningweekly.com) – ASX-listed Senex Energy has inked another offtake agreement at its Project Atlas development, in Queensland.
Under an initial two-year agreement signed with packaging manufacturer Orora, Senex will supply 1.1 PJ of natural gas, starting in January 2020, and 2.2 PJ starting in January 2021.
The two companies have also agreed on a mechanism that could extent the term of the agreement by six years, starting in January 2022, for up to 6.6 PJ of gas.
Senex said on Wednesday that the gas will be supplied at the Wallumbilla gas hub, in Queensland, at a fixed price in line with the current market levels, indexed annually.
“We’re delighted to secure Orora as a customer and support this world-class manufacturer of cardboard, glass, and aluminium packaging which are used by millions of Australians each year. Orora has three manufacturing plants in Queensland and employs over 3 000 people in Australia,” said Senex MD and CEO Ian Davies.
“This gas sales agreement is innovative in its flexibility, allowing material additional quantities of natural gas to be supplied to Orora in the future.”
Davies said that with two gas sales agreements now secured over Project Atlas, and drilling set to start later this month, Senex was accelerating towards first gas from Project Atlas by the end of this year.
Project Atlas is expected to reach a plateau production of 32 TJ/d, or about two-million barrels a year of oil equivalent, with an additional 8 TJ/d of installed redundant capacity available.
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