Vintage Energy Extends Gas Supply Agreement with Pelican Point Power

Vintage Energy Ltd (ASX: VEN) has secured an additional two-year gas supply agreement for the Odin gas field, part of the PRL 211 Joint Venture. The joint venture, which includes Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd, signed terms with Pelican Point Power Limited. This agreement extends the supply period from January 1, 2025, to December 31, 2026, following a prior agreement for gas supply from Odin until December 2024. ACCC authorization paved the way for this extension.

Vintage and its partners are exempt from gas price caps due to their smaller market presence. The agreement allows for interruptible gas supply from the Odin field. Pelican Point Power Station, operated by ENGIE Australia & New Zealand, relies on this gas supply for energy security in South Australia. Vintage Managing Director Neil Gibbins expressed satisfaction with the deal, meeting their contracting targets for the medium term.

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