Amplitude Energy and its partner OG Energy have secured a significant four-year gas sales agreement with EnergyAustralia, one of the nation’s largest energy suppliers. EnergyAustralia has committed to purchasing 30 petajoules of gas, at a rate of 7.5 petajoules annually, from the Amplitude-led East Coast Supply Project. This project, estimated to cost over $400 million, aims to bolster gas supply off the Victorian coast. Amplitude Energy is focused on developing gas supply projects, while OG Energy is its project partner.
The gas price outlined in the agreement is said to reflect current market rates and includes provisions for annual increases tied to inflation. The commencement of gas supply under the agreement is projected for the latter half of 2028. The East Coast Supply Project is targeting the Victorian gas market.
According to Amplitude, the gas sales agreement is contingent upon successful exploration and drilling outcomes, as well as a final investment decision to proceed with the project’s development. Amplitude Energy CEO Jane Norman noted that there is high interest in the project from other potential customers.
Ms. Norman added that negotiations with several other potential customers are progressing. The company anticipates finalising additional gas sales agreements as it moves toward a final investment decision.
