CTP central petroleum limited
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Think this EOI aims to flush out a firm commitment from NT PWC,...

  1. numeraire
    438 Posts.
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    20/05/24
    10:31
    Post #: 73908927
    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
    Last edited by numeraire: 20/05/24
    CTP Price at posting: 6.9¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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