Well I have a claw hammer to rip that nail straight back out so he's nailed nothing what so ever.
There's PLENTY of gas! and so the 'alleged' impending gas shortage on the east coast has been averted and so there's now absolutely no need for Metgasco and its industrial gas mine in an area covered in waterways.
AGL eyes Queensland gas market after big buy from BHP, ExxonMobil.
AGL will have an extra 30 to 50 petajoules a year of gas to sell into the "high value Queensland market" after it agreed to buy 198 petajoules from Bass Strait joint venture partners BHP Billiton and Exxon Mobil.
AGL is seizing on a gap in the market that will likely be created by Shell's $91 billion takeover of BG that was announced yesterday.
The BG takeover is expected to take the biggest source of uncontracted coal seam gas in Queensland (Shell's Arrow Energy venture) off the market, so AGL has opportunistically moved to present itself as a potential supplier of third party gas to the Gladstone LNG facilities run by Santos and Origin Energy.
AGL said this morning it will have 30 to 50 petajoules per year of uncontracted gas available "for sale into the high value Queensland market" between the 2018 and 2020 financial years.
That should coincide with when Gladstone's three LNG facilities - at least two of which are believed to require extra gas from third parties - are up and running.
Santos' GLNG project is already buying gas from third parties and is believed to require more to run its facility near full capacity.
AGL will buy 198 petajoules of gas from Bass Strait joint venture partners BHP Billiton and Exxon Mobil in a deal announced this morning.
The Bass Strait gas will be delivered to AGL over a three year period beginning in January 2018 and aside from helping AGL meet its residential supply obligations, it will allow the company to free-up gas for sale in Queensland.
Neither AGL nor the Bass Strait partners have revealed the price of the gas deal, but AGL described it as "competitively priced" and "oil linked".
The latter comment implies the gas has been sold at a cheaper price than some of the Bass Strait gas supply deals struck in recent years, which were priced before the slump in oil prices.
The Bass Strait partners were widely believed to have sealed large, long term gas sales agreements in 2013 at between $6 and $9 per gigajoule, as energy market participants braced for rising gas prices on Australia's east coast.
Exxon's director of Australian gas marketing, Stu Jeffries, said it was clear Bass Strait was playing a crucial role in supplying gas to the eastern Australian market almost 45 years after operations in the province began.
"This agreement demonstrates that the east coast gas market is functioning effectively," he said.
Shell's takeover of BG is expected to see Arrow Energy's gas tied into BG's Queensland Curtis LNG facility near Gladstone.
http://www.smh.com.au/business/mini...-buy-from-bhp-exxonmobil-20150409-1mh8iw.html
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