Based on the announcement, we should be earning the same margin as though the gas was processed through the plant in the first place (and we won't be depleting Sole gas reserves).
The way it reads we appear to be no worse off than if we had been producing the 54TJ and rightly so given APA had taken on build/refurbish, own, operate, maintenance and finance risk in respect of the processing plant. These risks were assumed by APA and their failures should not impact COE - otherwise we rightly should seek compensation / damages
To ensure supply to the GSAs, Cooper Energy has back-up gas supply arrangements in place. Under the Transition Agreement, APA will make contributions to the cost of certain back-up supply arrangements in instances of production shortfalls. Cooper Energy will earn a comparable net cash margin as if all the gas had been processed at the OGPP, and a superior net cash margin to that which would occur through supply at anticipated near-term spot gas prices.
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