Senex Completes Gas Supply Deal With GLNG

Senex Energy and GLNG have completed the transaction for the development of the Western Surat Gas Project in Queensland, Australia, announced on 24 September 2015.   

Senex has received $42 million in cash and a comprehensive suite of subsurface, production and other technical data, in exchange for the sale of the Maisey block to GLNG. The company will supply up to 50 TJ/day of sales gas from its Western Surat Gas project to GLNG under a binding 20-year gas sales agreement.

It was a transformational deal for the company, and would underpin the development of a long term, material and sustainable East Coast gas business for Senex, Ian Davies, Senex Managing Director said. 

“The completion of this transaction is a milestone in Senex’s strategy to capitalise on the growth in Australia’s East Coast gas market,” Davis said.

GLNG is led by Santos, in partnership with three of the world’s leading energy companies – PETRONAS, Total and KOGAS. GLNG includes the development of coal seam gas resources in the Bowen and Surat basins in Queensland, a 420km gas transmission pipeline to Gladstone, and two LNG trains with a combined nameplate capacity of 7.8 million tons per annum on Curtis Island.