Beach Energy Limited disclosed Wednesday that the company is transitioning to separate lifting and marketing of its equity share of sales gas from the SACB (South Australian Cooper Basin) and SWQ (South West Queensland) Joint Ventures (JVs) in Australia. Through its wholly owned subsidiary, Delhi Petroleum Pty Ltd., Beach entered a long term sales gas agreement with Origin Energy Retail Ltd. for a minimum eight year period commencing July 1 (Long Term GSA, announced April 10, 2013).
Beach is pleased to advise that deliveries of sales gas under the Long Term GSA commenced today. Key benefits to Beach from the agreement include attractive oil‐linked pricing with other parameters, and expected delivery of significant sales gas volumes over an initial eight year period (total volumes of up to 139 petajoules or PJ), with a two year extension available to Origin (for total volumes of up to 173 PJ over
Beach’s Managing Director, Rob Cole, said “We are pleased to have partnered with Origin for the supply of material gas volumes under a long term gas sales agreement. Our transition to separate gas lifting and marketing from the Cooper Basin will strengthen both Beach’s position as an independent upstream gas supplier, and our ability to benefit from expected East Coast gas demand growth.”
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