- Metgasco (MEL) with its ATP 2021 joint venture partners executes a pipeline tie-in agreement with the South Australian Cooper Basin Joint Venture (SACB)
- The agreement provides for the connection of the Vali gas flowline, and ongoing receipt of Vali gas, into the SACB pipeline network
- The execution of the tie-in agreement marks completion of all commercial agreements required for gas produced from the Vali gas field to flow to Moroomba
- MEL shares are up 3.85 per cent and trading at 2.7 cents per share at 12:35 pm AEST.
Metgasco (MEL) with its ATP 2021 joint venture partners, Vintage Energy and Bridgeport, have executed a pipeline tie-in agreement with the South Australian Cooper Basin Joint Venture (SACB).
The tie-in agreement provides for the connection of the Vali gas flowline, and ongoing receipt of Vali gas, into the SACB pipeline network.
The execution of the tie-in agreement marked completion of all commercial agreements required for gas produced from the Vali gas field to flow to Moroomba.
The gas will be processed and supplied for sale to AGL under the gas sales agreement until end 2026.
In the gas sales agreement, AGL will pay $15 million in pre payments across three equal tranches upon achievements of project milestones.
The company has not disclosed any information regarding the terms of the agreement.
MEL shares were up 3.85 per cent and trading at 2.7 cents per share at 12:35 pm AEST.