More gas for Victoria as Sole project nears completion

12 Feb 2019

Sole

Cooper Energy have announced the expected completion date for their Sole Gas Project, with new gas supplies as early as July available to Victoria and South Australia.

The Sole Project is expected to begin its first gas for commissioning of the upgraded Orbost Gas Plant in June, with plant performance testing and first sales scheduled for July. This could bring around 24 extra petajoules of gas into Victoria, reducing the risk of shortage and (hopefully) keeping prices down.

The new gas field is expected to keep pricing at around $9 to $11/GJ, and avoid any surge pricing as seen last year, when spot prices reached up to $18/GJ and supply up to 10% of Victoria’s gas needs. The gas will be sent through APA’s Orbost gas plant and its pipelines to the wider domestic market.

The Sole project is currently 86 per cent complete and is running to schedule and to budget, Cooper Energy said.