Equus Energy signs gas sales agreement with Alcoa

• Equus Energy executed a binding conditional gas sales agreement with Alcoa for long-term domestic gas supply from the Equus Gas Project.
• The transaction establishes a foundation customer and provides access to project funding of up to US$30 million to support development.
• The agreement satisfies the project's domestic gas supply commitments under state reservation policies as development advances towards a final investment decision.

Equus Energy (ASX:EQU) executed a binding conditional gas sales agreement with Alcoa (NYSE:AA) of Australia to supply approximately 50 terajoules of gas per day over a 10-year term.

The transaction follows the completion of technical front-end engineering design phases and establishes a foundation for domestic customers for the offshore resource.

"The execution of this major gas sales agreement with Alcoa demonstrates the strategic importance of the Equus Gas Project as a large, proven and vital gas resource that can meet the shortfalls in WA's domestic market and backfill spare LNG capacity on the North West Shelf," said Equus Energy Managing Director Will Barker.

Under the contract terms, the total volume supplied will reach approximately 182 petajoules following project start-up, backed by a broader funding agreement granting access to up to US$30 million in project support.

Following the announcement, the Equus Energy share price was unchanged at $0.34.

The company holds 100% ownership of the Equus Gas Project located on the North West Shelf offshore from Western Australia.