Ann: Update on the Northern Territory Gas Market and Mereenie EOI, page-15

Think this EOI aims to flush out a firm commitment from NT PWC, alike the Tamboran agreement.

The current PWC "as-available" supply agreement runs at 30TJ/d until the end of 2024 for any gas after CTP delivers firm commitments. If the EOI commits 40TJ/d from mid 2024, then PWC will be left with 5TJ/d at best which, judging on current production, is significantly below their current requirements.

The JV has also committed to 20TJ/d for the Arafura GSA coming in 2026, so commitments on the EOI for 40TJ/d implies the JV needs to add further capacity before 2026.

All up a positive move forward, especially given the pipeline charges are significantly lower to PWC.

GLTAH