Queensland Pacific Metals (ASX:QPM) - MD, John Downie (left) and CEO, Stephen Grocott
MD, John Downie (left) and CEO, Stephen Grocott
Source: QPM
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  • Queensland Pacific Metals (QPM) joins Transition Energy Corporation and North Queensland Gas Pipeline to develop a dedicated gas supply chain
  • The supply chain will be from the northern Bowen Basin to QPM’s TECH Project in Townsville
  • The parties will negotiate gas supply and transportation agreements, and work together to complete studies, such as feasibility and design
  • The supply chain is in line with the works being undertaken at TECH, which is due to be commissioned by the end of 2023
  • Queensland Pacific is trading in the grey at 19.5 cents per share at 11:09 am AEST

Queensland Pacific Metals (QPM) plans to team up with Transition Energy Corporation and North Queensland Gas Pipeline to develop a dedicated gas supply chain.

The parties have signed a non-binding memorandum of understanding (MOU) for a supply chain from the northern Bowen Basin to QPM’s TECH Project in Townsville.

Under the MOU the parties will negotiate gas supply and transportation agreements. They will also work together to complete studies for the feasibility, design, approvals and construction of the initial gas supply chain.

Current development plans include draining and harvesting of gas from operating mines in the northern Bowen Basin for transportation to the Lansdown Eco Industrial Park via the Northern Queensland Gas Pipeline.

The supply chain is in line with the works being undertaken at TECH, which is due to be commissioned by the end of 2023.

TECH is estimated to require 10 petajoules of gas per annum once in a steady state.

QPM CEO Stephen Grocott is pleased with this agreement.

“I am delighted to have signed this agreement with such high-quality partners and I look forward to working with them as part of the completion of our definitive feasibility study,” Mr Grocott said.

“In particular, I am pleased by the potential to help create Australia’s first producer of net zero carbon nickel.”

Queensland Pacific was trading in the grey at 19.5 cents per share at 11:09 am AEST.

QPM by the numbers
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