Why hasn't Central Petroleum announced gas deals in anticipation...

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ravishankaray

11,084 Posts.

04/04/16

11:05

Post #: 17414611
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Originally posted by longrunsthefox ↑

http://www.smh.com.au/business/ener...amid-drilling-opposition-20160401-gnwgmc.html

Pipeline owner Jemena has been forced to reduce the size of a new $800 million pipeline it will build to join the Northern Territory into the national gas grid by about a quarter after resource developers were deterred by the lack of bipartisan support for onshore drilling.
The North East Gas Interconnector (NEGI) line will be able to carry just 90 terajoules a day of gas through a 12-inch-diameter pipe, instead of the 120TJ/day through a 14-inch pipe that was anticipated when Chinese-controlled Jemena won the contract from the NT government in November.
"There just isn't enough gas to justify anything bigger than a 12-inch pipeline at this stage," Jemena head of business development Antoon Booey said.
"When we were awarded the business in November last year we had an expectation there would be more gas available to be transported, but since late last year there's been a real lack of interest to contract with us for gas transportation agreements."

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Why hasn't Central Petroleum announced gas deals in anticipation of NGP, and also in support of JEMENA.
If there is a perceived problem for Jemena because not enough gas suppliers, so that is why they have reduced the pipe line diameter, I would have thought it would have been in CTP's interest to be able to categorically confirm they have the gas, before Jemena ordered the pipe, no matter how much is needed.

CTP Price at posting: 9.4¢ Sentiment: Hold Disclosure: Held
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