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Origin Announces Gas Supply Agreement with QGC

Source: www.gulfoilandgas.com 11/28/2013, Location: Not categorized

Origin Energy Limited (Origin) announced the signing of a conditional gas sales agreement with QGC Pty Limited (QGC), providing Origin an additional pathway to monetise its gas portfolio.

Under the terms of the agreement, Origin will supply QGC with up to a total of 30 petajoules (PJ) of gas at Wallumbilla in calendar year 2014 and 2015 at oil-linked pricing.

The transaction retains Origin's fuel flexibility with an option to call back certain volumes of gas into its portfolio during periods of high east coast gas or electricity market demand.

Origin Chief Executive Officer Energy Markets, Mr Frank Calabria said, "The supply agreement with QGC provides Origin an opportunity to leverage its diverse gas portfolio and extensive transport flexibility to create further value in the gas market.

"The agreement highlights the strength and flexibility of Origin's portfolio of fuel resources, which position the company ideally to meet domestic and international demand for gas," Mr Calabria said.

Along with its existing gas portfolio, Origin has access to a range of organic growth opportunities including the Halladale Black Watch conventional gas project in Victoria and the Ironbark CSG project in Queensland.

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