New Zealand Oil & Gas Limited has signed a new Gas Supply Agreement (GSA) with Shell Energy Australia for supply of 0.64 Petajoules (PJ) of gas over one year, starting 1 January 2025.
The GSA is a take-or-pay contract at a fixed price, reflecting strong market conditions, and will supply gas from the Mereenie field into the East Coast domestic market.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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