Supports North East Gas Interconnector
Brisbane, April 1, 2015 AEST (ABN Newswire) - The Managing Director of Central Petroleum Limited (
ASX:CTP) ("Company" or "Central"), Mr Richard Cottee said the Company welcomed media reports today that the North East Gas Interconnector ("NEGI") was "almost certain" to be built according to the Northern Territory's Chief Minister Adam Giles.
The report in The Australian newspaper said a short list of candidates would submit final proposals to complete the project including Merlin Energy Australia.
Mr Cottee said Merlin Energy Australia should not be confused with the Central Petroleum subsidiary Merlin Energy Pty Ltd (ACN 081 592 734) and that Central had no construction or funding involvement with the NEGI pipeline proposal.
"Central has been an early and strong advocate of the NEGI, so the confusion is understandable, but Central is not involved in the pipeline construction proposal. Our role is intended to be as a supplier of the gas to be transported through the pipeline", said Mr Cottee.
"The proposed pipeline will directly link the Northern Territory's budding gas fields, including Central's Palm Valley and Dingo fields, to the huge domestic demand centres of South Eastern Australia. The effect will be to create the backbone for a domestic gas market", he said.
Mr Cottee said Central had received a number of media and investor inquiries today seeking further information about Central's involvement and it was necessary to ensure the market was accurately informed.
About Central Petroleum Limited
Central Petroleum Limited (
ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.
Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.
We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.
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