Central Petroleum has secured a new gas sales agreement (GSA) with the Arafura Rare Earths group for the supply of up to 6.85 PJ of gas to its proposed Nolan’s Project in the Northern Territory over 5 years from 2026.

The GSA is conditional on various conditions precedent being satisfied by Arafura by 30 June 2024, including confirmation of project approvals and a final investment decision.

This new gas supply agreement allows Central to broaden its customer base across the NT and demonstrates the important role that our gas has to play in supplying customers in the Northern Territory.

Arafura is developing the Nolans rare earth project, 135 kilometres north of Alice Springs, targeting one of the world’s largest undeveloped Neodymium and Praseodymium resources, critical to meeting rapidly growing global demand for electric vehicles and renewable energy technology.

Central continues to provide reliable gas supplies to Australian businesses, and has entered into three new GSAs since September for the supply of over 8 PJ of gas to customers in northern Australia.

To read the full release, click here.

Leon Devaney
MD & CEO
Central Petroleum Limited

Released by:
Leon Devaney
MD & CEO
Central Petroleum Limited