CTP central petroleum limited

Ann: Update on the Northern Territory Gas Market and Mereenie EOI, page-13

  1. 6,456 Posts.
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    I don't think so, it says all production is currently going to PWC until the end of 2024. I assume whatever contracts they had in Qld were force majeure, sounds like they are starting marketing with a blank slate for the whole field. The Qld buyers would be very leery of signing up again after the NGP has been off-line so much so they are probably switching to Qld supply.

    Plus I think Mereenie can only do about 45 TJ/d max so any more would mean needing to upgrade the plant which seems unlikely this late in its life unless they found a major new source of gas.

    It's a good idea for the JV to move on this ASAP as there are a number of majors with undeveloped gas fields offshore of the NT. Blacktip's demise came on faster than expected and green tape has held up development which is how we ended up in this situation, but now that Labor has belatedly come round on gas, if the price forecast remains as strong as it is currently those majors will start sniffing round again, I'm sure.
 
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