AGL’s Upstream Gas division is responsible for securing long-term gas supply for Retail Energy customers, thus reducing AGL's dependendence on contracted gas.
Prior to establishing its Upstream Gas division, AGL solely secured this gas through long term gas supply agreements with third parties. More recently, AGL has increased its direct equity ownership of reserves with interests in both conventional and unconventional fields. Having direct ownership of reserves removes recontracting risk and allows AGL to effectively match its production profile to estimated demand.
Now the Upstream Gas division operates petroleum exploration, development, production and storage in New South Wales and Queensland.
We operate the Camden Gas Project in south-west Sydney, which now supplies about 5% of New South Wales’ natural gas demand. It has been safely producing CSG alongside a variety of other land uses for more than 10 years.
We also operate CSG exploration projects in New South Wales (at Gloucester and in the Hunter Valley region) and in Queensland (in the Galilee Basin Near Longreach). As we expand our CSG operations, we will continue to use best practice standards and address areas of community concern, such as we are doing with our groundwater monitoring studies across all of our CSG projects.
In addition to our CSG projects, AGL has conventional gas production assets in the Surat Basin, and is exploring for oil in Queensland’s Cooper Basin.
We also operate an underground gas storage facility at Silver Springs, Queensland. In addition, we are building a processing plant and above ground storage facility at our Newcastle Gas Storage Facility Project at Tomago.
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