Vintage JV gets ACCC authorisation to market Odin gas
Sydney-listed Vintage Energy, along with its joint venture partners Metgasco and Bridgeport, has received authorisation from the Australian Competition and Consumer Commission (ACCC) to enter into joint marketing arrangements for the Odin gas field, the company announced on May 29.
Vintage holds a 50% interest in and operates the ATP 2021 and PRL 211 joint ventures. Metgasco and Bridgeport own 25% each in the joint venture.
The ACCC's authorisation allows the joint venture members to collectively market the gas produced from the Odin field for a period of five years. During this time, the parties are permitted to negotiate gas supply agreements with customers based on common terms and conditions, including pricing. These gas supply agreements can have a duration of up to 15 years.
The joint venture recently signed the first gas supply deal for the Odin gas field, located in Australia’s Cooper basin. The contract will see Vintage supply gas from the Odin field to Pelican Point Power Station from field start-up until December 2024.
The Odin gas field was discovered by the joint venture in 2021. The field has independently certified contingent resources of 40 petajoules.