The Australian Competition and Consumer Commission is set to propose to authorize joint gas marketing arrangements between Central Petroleum
(ASX:CTP) and Macquarie Mereenie.
Central and Macquarie are joint venture partners in the oil and gas field based in the Northern Territory.
In order to allow the development of Mereenie as soon as possible, the ACCC has granted interim authorization allowing parties to begin negotiating.
Drilling will go ahead as scheduled.
Later this year the Northern Gas Pipeline will link the Northern Territory to the east coast gas market. It will run beween Tennant Creek and Mount Isa.
Shares in
(ASX:CTP) are trading up 19.05 per cent to $0.13.
