Image Sourced ShutterStock
Market Herald logo


Be the first with the news that moves the market
  • Vintage Energy signs memorandum of understanding with Comet Ridge Galilee and APA Group
  • APA will fund future gas pipeline infrastructure
  • Project to benefit large mining projects in Queensland such as Gladstone, Moranbah and Wallumbilla – giving them alternative to diesel
  • Galilee Basin is a step closer to being tied-in to the east coast gas market

Vintage Energy Ltd has signed a memorandum of understanding with Comet Ridge Galilee Pty Ltd and APA Group, Australia’s largest gas infrastructure company.

As part of the agreement, APA will complete a program to identify a pipeline route to connect the Galilee Basin in Queensland to Australia’s east coast gas markets. APA’s planned route will supposedly benefit large mining projects such as Gladstone, Moranbah and Wallumbilla , giving them the choice to use gas rather than diesel.

The work program will comprise of on the ground surveys, engaging with local stakeholders, conducting environmental studies and importantly, applying for a Pipeline Survey Licence.

“We believe that the Galilee Basin has the potential to produce material quantities of gas. In order to fully commercialise any discovered gas, we will need to have access to the Australian east coast markets, so this MOU with APA is a large step toward making this possible,” Vintage Energy Managing Director, Neil Gibbins said.

Comet Ridge will benefit greatly from the agreement as the ‘interconnected nature’ of APA’s east coast grid will help it to market its gas in domestic and even international gas markets.

All three companies have agreed to negotiate a Gas Transportation Agreement. APA will build, own and operate new pipeline infrastructure to transport gas from the Galilee Basin Deeps Joint Venture permits, which are held by Vintage Energy and Comet Ridge.

VEN by the numbers
More From The Market Herald
Kleos Space (ASX:KSS) - CEO, Andrew Bowyer

" Kleos Space (ASX:KSS) to build and launch Observer Mission

Kleos Space (KSS) has signed new contracts with satellite builder Innovative Solutions in Space (ISISPACE) and global launch services provider, Spaceflight.
Worley (ASX:WOR) - CEO, Chris Ashton

" Worley (ASX:WOR) awarded Shell contract in The Netherlands

Worley (WOR) has been awarded a services contract to support the development of a low-carbon fuels facility in The Netherlands.

" Melbana Energy (ASX:MAY) undertakes logging at Alameda-1

Melbana Energy (MAY) has updated the market on its progress at the Alameda-1 exploration well being drilled in Block 9 PSC in Cuba.
Amaero International (ASX:3DA) - CEO, Barrie Finnin

" Amaero International (ASX:3DA) to make rocket motor parts for Gilmour Space

Amaero International (3DA) has secured a heads of agreement (HoA) with Gilmour Space Technologies.