New supply contract for Project Atlas

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A third domestic sales contract for Senex Energy’s Project Atlas has been signed.

Senex will supply Brisbane-based glass packaging manufacturer O-I Australia with up to 10.5PJof natural gas over five years, starting from January 2021.

Managing Director and CEO of Senex, Ian Davies, said they were proud to once again support local manufacturing, jobs and investment with the supply of Queensland sourced gas.

“We’re delighted to secure O-I Australia as a customer and support this leading glass-container manufacturer, employing 1050 people across Australia.

“This agreement marks the third domestic gas contract for Senex’s Project Atlas natural gas development, bringing the total volume under contract to over 23PJ. These contracted volumes are systematically de-risking future revenue from Project Atlas.

“With first gas from Project Atlas planned for late 2019, Senex expects to write additional new gas contracts with a range of gas buyers in the coming months,” Mr Davies said.

APPEA Chief Executive, Andrew McConville, said the new contract highlights the critical importance of developing new gas resources and the response the oil and gas industry is taking to accelerate the delivery of new supply.

“Queensland has taken a proactive approach to gas development which has delivered significant new supply to its homes and businesses, as well to many manufacturers in southern states, whose governments have put a brake on gas production.”

Senex’s new supply contract is part of the billions of dollars in investment undertaken by the gas industry to bring more gas into the market, supporting both domestic gas consumption and export projects that are underpinning much of Queensland’s economic growth.

“It is critical Queensland continues to support resource development to enable this to continue,” Mr McConville said.

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