New Zealand Oil and Gas has signed a conditional gas supply agreement with Arafura Rare Earths for up to 4.8 petajoules of gas.
The agreement is set to be in effect for a period of up to five years starting from 2026.
The gas supplied under this agreement will be combined with gas from other joint venturers to provide up to 27.4 petajoules of gas to Arafura.
The chief executive of New Zealand Oil and Gas, Andrew Jefferies, highlighted the importance of the Nolans rare earth minerals project in the transition to wind turbines and electric vehicle motors.
The agreement is still subject to various conditions precedent relating to the Arafura Nolans project.
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