NT gas market isn't flooded, NT power generation have been let down by ENI Black tip. Multiple times over past few years the Darwin Power station has had to run on Diesel.
Santos stepped in and diverted gas from what would have been expected from the LNG plant (as they are close neighbours) Santos Bayu Undan has declined now offline, so INPEX as a measure for social license, have been responsible with recently supplying Cannel Island Power station, they haven't been obligated to do this, though they have, else INPEX would have exported these volumes.
ENI Blacktip gas, can't recall the volumes in the contract, but it was excessive for the NT power stations demands, (as there are a few up and down the Stuart Highway). Plus some NT mines are large users of Gas, Glencore plus Tanami gold mines, as they locally on site run a large number of gas turbines. More mines have wanted to start, but energy is a consideration as it's not easy to truck in diesel all year around.
excess ENI Black Tip has had been on sold to supply Mount Isa, though they've never been able to meet contractural requirements, so this had to be sale gap plugged contractually, unsure of who's supplied this gas.
Massive recognised shortage here in the NT, our electricity prices with one power generation provider are through the roof, everyone in the NT is concerned by the cost burdens
TBN Price at posting:
15.0¢ Sentiment: Buy Disclosure: 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)