Beach Energy’s Waitsia Stage 2 gas plant is finally ready for start-up, according to RBC Capital Markets analyst Gordon Ramsay. First gas sales from the project are anticipated to commence in approximately two weeks. Beach Energy is an Australian oil and gas company with exploration and production assets. The company aims to deliver reliable energy to homes and businesses.
Ramsay noted that the Waitsia Stage 2 gas plant is now expected to reach 90 per cent capacity by the end of February 2026. This is a slight delay from the previously forecast date of the end of January 2026. This shift implies that the plant’s impact on Beach Energy’s earnings will be more evident in the 2027 financial year.
The Waitsia project has experienced considerable delays and a substantial increase in costs, around 70 per cent. Beach Energy stepped in to provide support during the commissioning phase. Despite these challenges, the imminent start-up of the gas plant is a positive development for investors who are looking forward to higher earnings in the future.
Following the news, shares in Beach Energy experienced a boost, rising by 2.4 per cent during morning trade on the ASX. This indicates a positive market reaction to the progress at the Waitsia Stage 2 project, despite its previous setbacks.
