Guys - The 10-year deal just signed between Senex and...

Guys - The 10-year deal just signed between Senex and manufacturer/recycler ‘Visy’ illustrates the desire for industrial players to cement long-term gas supply to meet their respective operational requirements.
Looking forward to Comet’s imminent quarterly report.

JULY 24, 2023

Senex and manufacturing and resource recovery business Visy have struck a gas supply deal, building a foundation for long-term local manufacturing in Queensland.

Senex will supply 20 petajoules (PJ) of natural gas for ten years from January 2026 from its proposed Atlas expansion in Queensland’s Surat Basin.

This deal is a big long-term win for a leader in packaging and resource recovery and its $ 700 million manufacturing and recycling investments in the State.

Visy’s Chief Executive Officer, Mark De Wit, said the agreement would underpin Visy’s investments in Queensland over the long term.

“Visy is proud to be investing $ 700 million in Queensland and this agreement means we can continue to grow our manufacturing operations”.

“The packaging Visy makes in Queensland keeps the supermarket shelves stocked, and we’re proud to partner with Senex to keep delivering sustainable packaging for Queensland’s iconic food and beverage brands” Mr De Wit said.

Senex Chief Executive Officer Ian Davies said the company was delighted to be supporting such an important Queensland manufacturer in its packaging and recycling efforts.

“We know manufacturers are facing significant challenges in securing gas, and our domestically-focused Atlas expansion is part of the solution to bring new gas supply to market and put downward pressure on prices.

“Having gas for the manufacturing industry is absolutely paramount, and the only way that’s going to stay reliable is for there to be more investment, not less.

“More secure and reliable gas supply will help to keep Australian manufacturers in business and tens-of-thousands of people in secure, well-paying jobs” Mr Davies said.

This new gas agreement between Senex and Visy is subject to certain conditions precedent and Senex will work with Government to satisfy the conditions as soon as possible.

ENDS