Industry News

Cue Energy Resources Limited (ASX: CUE) is pleased to announce that it has executed a Gas Supply Agreement (GSA) with Incitec Pivot Fertilisers Limited.

The GSA is for firm gas supply with take-or-pay provisions and the price reflects current market conditions.

The gas will be aggregated with gas from other Palm Valley joint venturers, Central Petroleum and New Zealand Oil & Gas, to supply a total of 1.74 PJ.

The Central Petroleum release is attached.

Cue holds a 15% participating interest, New Zealand Oil & Gas a 35% participating interest and Central Petroleum (Operator) a 50% participating interest in the Palm Valley license. 

Click here to view the full announcement and media release 

Source: Cue Energy

• New Zealand Oil & Gas signs a Gas Supply Agreement with Incitec Pivot Fertilisers for 0.67 Petajoules (PJ) of gas to be supplied in calendar year 2024.

New Zealand Oil & Gas Limited (ASX:NZO, NZX:NZO) is pleased to announce that it has executed a Gas Supply Agreement (GSA) with Incitec Pivot Fertilisers Limited. The GSA is for firm gas supply with take-or-pay provisions and the price reflects current market conditions. The GSA is conditional on transportation agreements.

The gas will be aggregated with gas from other Palm Valley joint venturers, Central Petroleum and Cue Energy Resources, to supply a total of 1.74 PJ.

Chief Executive Andrew Jefferies said “It is great to be supplying Incitec Pivot, supporting Australian enterprise with this most Australian energy. Gas is a three letter word for transition.”

The Central Petroleum release is attached.

New Zealand Oil & Gas has a 35% participating interest, Cue Energy Resources has a 15% participating interest (New Zealand Oil & Gas owns 50.04% of Cue), and Central Petroleum (Operator) holds a 50% participating interest in the Palm Valley license.

To view the full announcement, click here.

Source: New Zealand Oil & Gas

Highlights

• Central Petroleum Limited (“Central”) has signed a gas supply agreement (“GSA”) with Incitec Pivot Fertilisers Limited (“Incitec”) for 0.87 Petajoules (“PJ”) of gas (net to Central) to be supplied to Incitec in 2024.

• Central’s gas will be aggregated with existing Palm Valley gas supply owned by NZOG Palm Valley Pty Limited (“NZOG”) and Cue Palm Valley Pty Ltd (“Cue”) (collectively the “Palm Valley JV”), to supply a total of 1.74 PJ to Incitec in 2024.

• The GSA is for firm gas supply, with take-or-pay provisions and a fixed price.

New Gas Supply Agreement

Central today announces that it has signed a GSA with Incitec for the supply of 0.87 PJ of gas in 2024. The GSA is for firm gas supply ex-field (Palm Valley or Mereenie), with take-or-pay provisions and a fixed price.

Gas supplied under the GSA will be aggregated with existing Palm Valley gas supply from NZOG and Cue to deliver up to 1.74 PJ of gas to Incitec in 2024.

Consistent with our broader marketing activities, the ex-field pricing under the GSA reflects current market conditions.

Central expects to bring further gas to market, having increased its production capacity through the commissioning of the Palm Valley 12 well in November 2022 and recent well recompletions at Mereenie.

Leon Devaney, Central’s Managing Director and Chief Executive Officer commented, “We are delighted to extend our relationship with Incitec and continue our supply of gas to eastern Australian markets at this time of market uncertainty and supply shortages.” 

Click here to view the full ASX announcement and media release 

Source: Central Petroleum

This afternoon the Territory Labor Caucus met, unanimously deciding that the Member for Drysdale Eva Lawler will be Chief Minister of the Northern Territory and the Member for Gwoja Chanston Paech will be Deputy Chief Minister.

Tomorrow the Member for Drysdale and the Member for Gwoja will be sworn into their positions.

Today, we also announcing that current Deputy Chief Minister Nicole Manison has decided to move to the backbench. We thank Nicole for her hard work over the last seven years in Cabinet, and the work that she has put into growing the Territory’s jobs and economy, Nicole will continue to serve her constituents as the Member for Wanguri.  

The Territory Labor Government is completely focused on creating jobs, tackling cost of living pressures and making the Territory safer. Those are our priorities because those are Territorians priorities.

Source: Northern Territory Government Newsroom

The Barossa Development Drilling and Completions Environment Plan (EP) was accepted by the regulator, the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) on Friday 15 December 2023.

Following the setting aside of NOPSEMA’s March 2022 approval of the EP in September 2022, Santos has conducted further extensive consultation with Tiwi Island people and other relevant persons consistent with the applicable regulations, NOPSEMA’s guidelines, and guidance provided by the decision of the Full Federal Court in the Tipakalippa proceedings.

Santos is proceeding with applications for all remaining approvals for the Barossa Gas Project.

More information on the Barossa Gas Project can be found here.

To view the full ASX announcement, click here.

Source: santos.com

Highlights:

• Tamboran Resources (Tamboran) have entered into three formal and binding agreements with APA Group (ASX: APA) to support the development of the Company’s Beetaloo Basin assets, including:
• • an Early Development Agreement relating to the development of the ~35-kilometre Sturt Plateau Pipeline (SPP) that is planned to connect the proposed 40 million cubic feet per day (MMcf/d) Sturt Plateau Compression Facility (SPCF) to the Amadeus Gas Pipeline (AGP) and, subject to achieving project milestones and executing further agreements, is targeting an online date as early as H2 2025;
  • an Early Development Agreement for development of a Beetaloo Basin to East Coast gas pipeline that aims to deliver material volumes (circa 500 MMcf/d or more) into Australia’s East Coast gas market and, subject to achieving project milestones and executing further agreements, is targeting an online date as early as 2028; and
  • a Partnering Agreement under which Tamboran agrees to work exclusively with APA Group and, subject to conditions being met, provides an option for Tamboran to acquire up to 15 per cent of any Beetaloo pipeline projects in the lead up to Final Investment Decision (FID) (excluding the SPP).
• Since the execution of the Letter Agreement in June 2023, APA has made good progress on the Beetaloo Basin pipeline projects.
• Under the Early Development Agreements, APA has agreed a process to continue development of the proposed pipelines with early works expenditure of up to A$10 million on the basis that Tamboran continues to progress and achieve agreed milestones in relation to the proposed Shenandoah South Pilot Project.
• The parties will commence negotiations on a binding Gas Transportation Agreement (GTA) targeting execution in H1 2024 subject to Tamboran achieving certain project milestones.

Source: Tamboran Resources 

The largest water storage infrastructure project in Northern Australia has taken another significant step forward.

A $6 million contract has been awarded to SMEC Australia to deliver the final concept design for the Adelaide River Off-Stream Water Storage (AROWS) project.

SMEC Australia have been delivering projects in the Territory for more than 4 decades. The company brings strong experience, capability and highly specialised skills to deliver this critical component of the AROWS project.

SMEC Australia Area Manager, Jocelyn Ellero said, “AROWS will become an iconic project in the NT, I am not only looking forward to delivering a project of such high technical calibre but the impact we will have on the community and future growth of Greater Darwin.”

AROWS is part of the Darwin Region Water Supply Program, which includes Manton Dam Return to Service: stage 1 of the program has received over $300 million in investment from the Australian Government.

AROWS will secure Greater Darwin’s long-term water supply and will be a critical enabler for agricultural and industrial growth, including the proposed Lambells Lagoon Agribusiness precinct and the Middle Arm Sustainable Development precinct.

The innovative and sustainable large scale water storage project takes full advantage of the natural features of its location to capture and store water. As such, there will be no dam infrastructure built across the river as you would typically see in in-stream dams, minimising environmental impact.

The design is expected to take approximately 12 to 18 months to complete, with construction expected to start in 2026, subject to regulatory approvals and an investment decision.

Source: Department of Tourism, Industry & Trade

From March 2024 Airnorth will commence a 3 weekly service between Alice Springs and Perth and return, providing more choice and connectivity for Territorians.

This is another positive result of the Territory Aviation Attraction Scheme, and was achieved in partnership with the Airport Development Group.

Flights will commence on 25 March 2024 and will operate on Monday, Wednesday and Friday.

This is the first time since June 2022 that Alice Springs will be connected with a non-stop air service to Perth - previously operated by Qantas.

The flights will also provide Alice Springs residents convenient one-stop operations to a range of international cities including London, Rome and Paris.

The route will open access to the Perth source market, and to international visitors using Perth as a hub. This will support the important visitor economy in Alice Springs.

This comes off the back of several recent aviation announcements for Central Australia including, Bonza Airlines new route between Melbourne and Alice Springs and Virgin Australia’s new routes from Melbourne and Brisbane to Yulara.

Source: Department of Tourism, Industry & Trade

Today, the Territory Labor Government has released the 2023 NT Infrastructure Plan and Pipeline and Infrastructure Audit – a document which lays out how more jobs and projects will be created. 

The Plan and Pipeline identifies projects, programs and proposals across the Territory’s regions that will address challenges and capture opportunities to enable economic growth and improve quality of life for all Territorians.  

Informed significantly by the findings of the Infrastructure Audit 2023, the Plan and Pipeline provides a strong evidence base to guide future decision making on infrastructure investment, maximising the Territory’s potential. 

At $4.07 billion, the Northern Territory’s 2023-24 infrastructure program represents a record level of government investment in the Northern Territory.

Key enabling projects of priority include: 

• Middle Arm Sustainable Development Precinct common user infrastructure
• Darwin Region Water Supply Program, including Manton Dam return to service and Adelaide River Off-stream Water Storage
• housing and land release
• strategic road corridors including Central Arnhem Road and Tanami Road
• creating a network of regional logistics hubs and intermodal facilities
• infrastructure in Central Australia to support local, national and international tourism
• investing in the Darwin Ship Lift and marine infrastructure.

This strategic plan underpins future economic growth, sustainable job creation, and increased productivity. To view the plan visit infrastructure.nt.gov.au

Quotes attributable to Minister for Territory Development, Eva Lawler:

“The Northern Territory is on the cusp of an economic boom facilitated through infrastructure, with $36 billion worth of projects in the pipeline as final investment is secured.

“A diverse range of stakeholders were consulted to formulate the plan and pipeline, including all levels of government, land councils, private sector, not for profit organisations, industry representative bodies, peak bodies and the community.

“The Infrastructure Plan and Pipeline does not automatically mean building more and building bigger infrastructure. We have also assessed the infrastructure we have, see how it meets or does not meet the needs of the community and how it can be improved or repurposed.

Source: Northern Territory Government

The Territory Labor Government is focused on protecting our environment as we develop real solutions for the Territory and our nation to reach net-zero emissions.

The Middle Arm Sustainable Development Precinct has achieved another key milestone as part of the strategic environmental assessment process.

The final Terms of Reference for Middle Arm’s strategic environmental assessment have been approved by the Federal Minister for Environment and Water, the Hon Tanya Plibersek MP.

The strategic environmental assessment’s Terms of Reference for Middle Arm specify what must be included in the Environmental Impact Study to ensure possible impacts of the development are correctly measured and assessed.

Here in the Territory, we have the most rigorous environmental protections in the southern hemisphere, because we know conserving our environmental values is critical.

The draft Terms of Reference were publicly available for community input last year, in which 30 submissions were received. The Commonwealth Government considered all submissions in detail received through both the NT and Commonwealth processes.

The strategic environmental assessment of the Middle Arm Sustainable Development Precinct is an important commitment between the Australian and Northern Territory Governments to deliver conservation outcomes and support appropriate development for the Middle Arm precinct over the next 50 years.

Quote attributable to Minister for Territory Development, Eva Lawler:

“Our Territory Labor Government is focused on protecting the environment, creating green energy, boosting job numbers and growing our economy, all of which will be facilitated through the Middle Arm Sustainable Development Precinct.

“The Terms of Reference for the strategic environmental assessment have been formulation through consultation between environmental experts, community members and government bodies to ensure no stone goes unturned throughout the environmental assessment process.

“This precinct is an economic enabler which leverages the Territory’s significant abundance of natural resources and critical minerals which are key in the fight against climate change.”

Source: Northern Territory Government