Vintage,
Interim authorisation allows the parties to begin jointly negotiating and entering into conditional long-term agreements with customers for the supply of gas from the Vali field.
The parties can also jointly supply minor quantities of gas to customers on a fully interruptible basis for a short period until
"The ACCC considers interim authorisation will provide investment certainty for the parties to expedite development of the Vali field and bring this new gas supply to the market sooner," ACCC Commissioner
"Given the small amount of the gas to be jointly marketed, the proposed joint marketing arrangements are unlikely to adversely affect competition. Any long-term gas supply agreements entered into with customers are conditional on the ACCC's final determination."
Vintage,
More information, including the ACCC's interim authorisation statement of reasons, is available at
Background
Under the Vali joint venture agreement, Bridgeport may reserve 50 per cent of its share of gas to
The amount of gas to be jointly marketed from the Vali field is small compared to the overall size of the east coast gas market. Upon full development of the Vali field, its annual gas production will be equal to approximately 0.5 per cent of the annual domestic gas demand in the east coast market, and less than 0.2 per cent when LNG export demand is included with domestic demand.
About
Contact:
Managing Director
+61 8 7477 7680
info@vintageenergy.com.au
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