Arrow delivers monster gas deal

The QCLNG plant of Curtis Island.

The QCLNG plant of Curtis Island.

Arrow Energy has agreed one of the largest gas supply deals on Australia’s east coast, to bring to market its significant gas reserves in southern Queensland.

Under the 27-year deal, uncontracted gas from Arrow’s Surat Basin fields in Queensland would flow to the QCLNG Project on Curtis Island, which will then sell the gas to local customers as well as exporting it.

Arrow Energy CEO Qian Mingyang said the company’s equal shareholders, PetroChina and Shell, had approved Arrow’s execution of a binding Gas Sales Agreement following 18 months of detailed work on upstream collaboration agreements.

“The deal offers long-awaited infrastructure collaboration in the natural gas industry, creating better cost efficiencies and enabling us to bring this gas to market in a challenging investment climate,” said Mr Qian.

“Collaboration between the parties will see use of existing QGC-operated infrastructure such as gas compression, processing and transmission infrastructure as well as water transport and treatment facilities. Utilising existing upstream infrastructure will reduce impacts to landholders and to communities.”

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