Senex, EnergyAustralia sign gas deal

Senex Energy, majority owned by Posco International, has signed a conditional agreement with utility EnergyAustralia for the supply of 24 petajoules of natural gas from its proposed Atlas expansion project in Queensland's Surat basin, starting from January 2025, it said on July 3.

The agreement comes in response to warnings from the Australian Competition and Consumer Commission (ACCC) about potential gas supply shortfalls in New South Wales and Victoria.

Senex last December suspended the A$1bn ($687mn) expansion plan for its Atlas gas project in Queensland following the federal government’s decision to cap gas prices.

In August 2022, Senex announced plans to expand its Atlas and Roma North natural gas developments in Queensland’s Surat basin. These developments planned to increase the company's production to 60 petajoules/year, representing more than 10% of annual east coast gas demand, and around 40% of annual Queensland gas demand