Beach Energy Ltd. reported Wednesday that the firm has received advice that sales gas from the SACB (South Australian Cooper Basin) and SWQ (South West Queensland) JVs will be available for separate lifting from Jan. 1, 2015. Consequently, Beach is pleased to advise that, through its wholly owned subsidiary Delhi Petroleum Pty Ltd., separate lifting and marketing of Beach’s equity gas molecules from the SACB and SWQ JVs will commence via a Transitional GSA (Gas Sales Agreement) with Origin Energy Ltd. The Transitional GSA is expected to deliver approximately 2.3 PJ (petajoules) of sales gas over the period Jan. 1 to June 30, 2015. Key highlights of the Transitional GSA include:
Reg Nelson, Beach managing director, said “We are extremely pleased to be nearing initiation of separate lifting and marketing of Cooper Basin gas. We have said repeatedly that the Eastern Australia gas market is facing imminent gas shortages, and today’s announcement recognizes the important part that the Cooper Basin and Beach Energy will play in servicing this demand over many years to come.
Today’s announcement also provides further validation of Beach’s business model and long-held strategy of diversifying across high quality oil and gas assets.”
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