Australia's Amplitude Energy approves FID for East Coast Supply Project
Australian gas producer Amplitude Energy said on Wednesday it had taken a final investment decision (FID) on the development phase of the East Coast Supply Project, which includes the construction of production infrastructure.
The Adelaide-based company expects to spend A$190-million to A$210-million ($132.8-million to $146.7-million) on its share of the project's development over fiscal 2027 and 2028, with costs funded through existing cash reserves and operating cash flow.
An equal venture with O.G Energy, the project is run by Amplitude.
The project is designed to connect discovered gas resources in Victoria's Otway Basin to existing infrastructure, boosting domestic gas supply to the east coast market at a time when Australia is considering rules that would require gas exporters to reserve up to 20% of output for local users.
The project covers the Annie, Juliet and Artisan fields, as well as the Nestor field subject to exploration success. First gas is targeted in 2028, with the fields expected to deliver gross production of up to 90 terajoules per day.
The Otway Basin is a major offshore gas-producing hub and a critical source of supply for Australia's southeastern domestic energy market, according to the Australian government website.
Amplitude shares were down 2.3% at A$1.675 as of 01:02 GMT, hitting their lowest level since September 7.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
