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Cooper secures Sole gas deal

Privately-owned manufacturer Visy to take at least 7.6 PJ of gas from offshore project

Australian operator Cooper Energy has secured a new customer for gas from its Sole gas development off the coast of Victoria.

Cooper revealed Thursday it had signed a gas supply agreement which will see it provide privately-owned Visy with 7.6 petajoules of gas from Sole over three years, from January next year, with the deal also carrying an option for a three-year extension.

Cooper said the gas would be supplied “at a price in line with current market prices” and indexed annually.

“Visy joins O-I Australia as the second large industrial manufacturer supplied by Cooper Energy,” Cooper managing director David Maxwell said.

“We are delighted to add another industrial user of gas to our customer portfolio under a multi-year supply agreement.”

Last month, Cooper also agreed an expanded sales agreement with AGL Energy which covered both its Sole and Casino-Henry offshore fields.

Cooper has completed the construction of the offshore Sole development and is awaiting APA Group to complete upgrade work on the Orbost gas plant before it can start delivering gas from the field.

That work is expected to be completed during the current quarter with commissioning and delivery of sales gas also expected to occur before the end of September.

Cooper holds a 100% interest in the Sole development which is expected to deliver gas sales of 4 million barrels of oil equivalent per annum.

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