Cue Energy Resources Limited (AU:CUE) has released an update.
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Central Petroleum Limited has signed an as-available gas supply agreement with Power and Water Corporation to provide up to 8.6 Petajoules of gas to the Northern Territory market by the end of 2024. Despite a current oversupply, primarily due to low production from the Blacktip field and supplementary supply from Darwin LNG, the expected decline in tail gas from Darwin LNG could enhance Central’s supply position. Central’s CEO expresses confidence in their strategic role to meet the NT’s gas demand, especially as the Amadeus Basin’s existing fields already cover over half of the local gas needs.
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