Central Petroleum Limited (AU:CTP) has released an update.
Central Petroleum Limited, the largest onshore gas operator in Northern Territory, has inked a deal to supply up to 8.6 Petajoules of gas to Power and Water Corporation by the end of 2024, with 2.1 PJ net to Central. Despite an oversupply in the NT gas market due to low output from the Blacktip field and excess tail gas from Darwin LNG, the expected decline in tail gas could open opportunities for Central to boost supplies. The company aims to expand its role as a key onshore domestic gas producer amidst evolving market conditions.
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