AGL Energy Limited (AGL) today announced it has entered into a Gas Supply Agreement (GSA) with Esso Australia Resources Pty Ltd and BHP Billiton Petroleum (Bass Strait) Pty Ltd to purchase up to 198 petajoules (PJ) of conventional natural gas from Bass Strait over three years.
The Esso Australia — BHP Billiton contract commences in January 2018 providing a continuation of gas supply from Bass Strait.
The GSA, which incorporates an oil linked pricing component, has enabled AGL to secure competitively priced gas supply until 2020 for our 1.5 million residential and small business gas customers.
AGL’s gas portfolio now has sufficient Queensland sourced supplies to release 30 to 50 PJ per annum for sale into the the high value Queensland market between FY18 and FY20.
Appendix 1 shows AGL’s contracted gas supplies following execution of the GSA.
AGL is one of Australia's leading integrated energy companies and is the largest ASX listed owner, operator and developer of renewable energy generation in the country. Drawing on over 175 years of experience, AGL operates retail and merchant energy businesses, power generation assets and an upstream gas portfolio. AGL has one of Australia's largest retail energy and dual fuel customer bases. AGL has a diverse power generation portfolio including base, peaking and intermediate generation plants, spread across traditional thermal generation as well as renewable sources including hydro, wind, landfill gas and biomass. AGL is taking action toward creating a sustainable energy future for investors, communities and customers.