Central Petroleum extends South32 GSA by 12 months for gas supply

Central Petroleum Limited (ASX: CTP) has reached an agreement to prolong its existing two-year gas supply contract (GSA) with South32 Cannington Pty Ltd (South32) by an additional 12 months. This extension entails the delivery of an extra 0.36 Petajoules (PJ) of gas, which Central will supply to South32 in 2025. However, it is essential to note that the continuation of this GSA is contingent upon the completion of transportation agreements by the sellers no later than June 30, 2024.

The gas provided by Central will be merged with the existing Mereenie gas supply, jointly owned by Macquarie Mereenie Pty Ltd (MM), NZOG Mereenie Pty Ltd (NZOG), and Cue Mereenie Pty Ltd (Cue), referred to collectively as the Mereenie Joint Venture (Mereenie JV). Together, they will provide a total of 1.46 PJ of gas to South32 in 2025 as part of this arrangement.

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