Senex Energy Limited (Senex, ASX: SXY) and GLNG have entered into a series of major agreements for the development of the Western Surat Gas Project in Queensland.
Key points:
- Senex to receive $42 million in cash, plus a comprehensive suite of subsurface, production and other technical data that will accelerate and de-risk Senex’s project for a successful Final Investment Decision, in exchange for the sale of the 77 km2 Maisey block within ATP 889 to GLNG
- Senex to supply up to 50 TJ/day of sales gas from its Western Surat Gas Project to GLNG under a binding 20-year gas sales agreement (GSA) at USD JCC oil-linked pricing
- Potential shared use of existing GLNG water treatment and gas processing infrastructure
- Raw gas sales and raw water disposal from Glenora Pilot agreed in principle to enable early gas sales
- Subject to satisfaction of conditions (including approvals) outlined in this announcement
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