Comet Ridge signs 3.6 PJ annual gas deal
- Comet Ridge executed a non-binding agreement to supply gas to Highview Power's proposed Queensland energy storage project.
- The agreement establishes a domestic customer for gas produced from the company's Mahalo Gas Hub.
- The proposed contract targets a minimum five-year supply commitment to support regional energy transition infrastructure.
Comet Ridge (ASX:COI) has executed a non-binding memorandum of understanding to supply 3.6 petajoules of gas annually to Highview Power.
The supply will feed Highview Power's proposed Central Queensland Energy Storage Project, located near Gladstone.
"Comet Ridge is pleased to be in a position to develop a domestic gas supply solution for this innovative project," said Comet Ridge Managing Director Tor McCaul.
Under the proposed gas sales agreement, Comet Ridge would supply 10 terajoules of gas daily for at least five years.
Following the announcement, the Comet Ridge share price was unchanged at $0.09.
The proposed energy storage facility will feature a 400-megawatt battery system and gas turbines at the Aldoga State Development area.
Gas will flow via the Queensland Gas Pipeline, linking the Mahalo Gas Hub directly to industrial consumers in Gladstone.
