Not investment advice DYOR.
Summary…
- Today an agreement was announced between Senex and Jemena to build a gas processing facility and pipelines adds weight to the emphasis Jemena is placing on their Northern Growth Strategy which, combined with Galilee’s potential to book reserves from the Glenaras multi-lateral pilot program should prioritise the FID for the extension of the NGP from Mount Isa to Wallumbilla.
- This well timed synergy of additional reserve certification and the nominal 200 TJ/day pipeline to Wallumbilla combined with rising world gas prices augers well for Galilee’s value as a company.
Background…..
1.00 Extracts From Galilee ASX/Media Announcement 15 March 2018
Galilee and Jemena signed a MoU in late 2017 in regard to the construction of a large diameter pipeline to deliver transformational volumes in the order of 200 TJ/day from the Glenaras Gas Project to the east coast market from 2022.
2.00 Today’s Jemena Senex Announcement…
Extracts…
“We are also continuing work on our Northern Gas Pipeline, which will initially bring around 90 Tera joules of gas to the east coast and are now progressing plans to expand and extend the pipeline so that it can transport around 700 Terajoule of gas".
"This latest agreement is part of Jemena’s "Northern Growth Strategy", which is focused on building gas and pipeline infrastructure across northern Australia.
“We know there is a continued demand for gas across the east coast and that northern Australia (And Jemena) will play a leading role in meeting this demand by bringing new gas to where it is most needed, via the most economic and direct route,” Mr Adams said.
3.00 Overview of World LNG Markets Powered by Demand from China
From my Previous Post
Liquefied natural gas producers around the globe are once again considering new investments as expectations of a glut in supply wither away in the face of strong, China-led demand growth in Asia.
Much of the focus this week at an annual oil and gas conference in Australia - which is about to become the world's top exporter of LNG - was on what projects are viable and how quickly can they be developed.
Regards OGP
Not investment advice DYOR. Summary… Today an agreement was...
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