Central Petroleum joins Australia gas pipeline push

Oct. 17, 2014
Central Petroleum Ltd., Brisbane, has jumped on the bandwagon associated with the recent proposals to build a Northern Territory-to-Moomba gas pipeline to link stranded natural gas fields in the Northern Territory to markets in eastern Australia.

Central Petroleum Ltd., Brisbane, has jumped on the bandwagon associated with the recent proposals to build a Northern Territory-to-Moomba gas pipeline to link stranded natural gas fields in the Northern Territory to markets in eastern Australia (OGJ Online, Oct. 14, 2014).

Central Petroleum has announced it is in exploratory discussions with potential gas purchasers to supply 10-15 petajoules/year of gas from late 2017.

The company, which holds interest in gas fields, undeveloped discoveries, and exploration acreage throughout onshore Northern Territory, is hoping to have gas sales commitments in place by December that would underwrite a major reserves upgrade program.

Recently it has said it plans to prove as much as 200 petajoules of conventional gas in its permits if sufficient markets can be established.

The planning began early this year with the $35 million (Aus.) acquisition of Magellan Petroleum Australia’s gas assets in producing Palm Valley field and undeveloped Dingo field in the Amadeus basin (OGJ Online, Feb. 24, 2014).