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Key Petroleum Limited has announced a non-binding gas processing Memorandum of Understanding with Santos Limited and wholly owned subsidiaries of Beach Energy Limited.

The gas processing MoU grants formal processing and transportation of raw gas, from Key’s Tanbar Gas Project, to be processed into sales gas to supply the East coast Australian gas market.

“Gas prices have been surging above A$10.00 per GJ in Sydney and between A$9.00 and A$10.00 per GJ in Victoria and Brisbane,” Managing Director, Kane Marshall, said.

“We are delighted to be working with Santos and Beach Energy and this MoU demonstrates a clear pathway to commercialisation of future gas discoveries within our Tanbar Gas Project. 2019 looks set to be a busy year for Key and we look forward to providing our shareholders updates of further developments in relation to each of our Perth Basin and Cooper Basin projects.” 

Please find Announcement attached:

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