Some information below comes from the 13-14 June 2018 Credit Suisse Annual Australian Energy Conference and readers should note the caveat contained in the presentation commencing " This presentation is not intended for prospective investors..." and DOYR.
As I understand it:-
The PWC has already beaten for the contract to CTP to supply of gas to the Tanami pipeline.
Although I am unable to establish the price PWC paid for Blacktip gas it is common knowledge that ENI negotiated a pretty good price for the sale their gas.
CTP recently made a passing comment to the effect that availability of gas, for this contract, was the problem rather than a completive price and the latest presentation seems to bear this out.
I have posted many times on the bottlenecks imposed by Amadeus and Carpentaria pipelines and at the last webinar identified the Amadeus pipeline bottleneck in a question.
Until the Mereenie Spur at feeding the Amadeus pipeline is increased in size CTP is limited to 22 TJ/day a minus Presold MAC gas 15 TJ/d firm at Palm Valley minus 5 TJ/d Macquarie Pre-Sale (Supplied from Palm Valley/Mereenie). Unless Palm Valley gas can fill the breach it could mean that the NGP1 capacity may not fully utilised the Mereenie Spur upgrade is executed.
The NGP looks something like this before the Mereenie Spur upgrade.
I have attempted to locate an official document that indicates new reference tariffs as a result of pipeline reform and was advised that this was not available. Would appreciated if anyone has more information.
I would prefer to wait for more information on drilling results before venturing to comment further.
RegardsOGP
CTP Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)