Unfortunately BPT can only sell to Origin Energy
Origin is being strategic. BPT cannot sell from existing gas fields in the Otway other than Origin. Origin pays BPT around $9.50 per GJ and if the spot price is not higher Origin will probably not nominate more than Origin’s need.
New gas discoveries like Enterprise wet gas discovery won’t have any restrictions and can be sold to the spot market.
But gas market in Victoria is fickle and demand can easily burst. Also on Winter, demand for gas is high. The Origin contract at the Otway somehow restricts supply to Victoria.
Just like property, the secret in gas is not to sell. Prices will be higher in future.
THE ONLY WAY IS UP., page-1477
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