SYDNEY, AUSTRALIA: Comet Ridge Limited, a gas exploration and development company, has announced a seven-year Gas Sales Agreement (GSA) with CleanCo Queensland Limited, a state-owned low-emission power generator. The GSA is subject to approval from the Queensland Government.

The deal will see Comet Ridge supply 3 PJ of natural gas per year to CleanCo’s Swanbank E power station, which provides firming capacity in partnership with renewable energy sources. The gas will be produced from Comet Ridge’s Mahalo Gas Hub in Central Queensland, which has a net 2P volume of 195 PJ and 2P+2C of 406 PJ.

The supply is expected to start between 1 July 2025 and 30 June 2026, giving Comet Ridge flexibility to make the Final Investment Decision (FID) on its Mahalo Gas Hub projects.

Comet Ridge Managing Director, Tar McCaul, said the GSA was a very significant milestone for the company as it transitioned from developer to producer of gas.

“We know that East Coast Australia needs more gas for decades to support consumers and jobs in vital industries, as well as to partner with renewables as we transition to Net Zero. Comet Ridge is very pleased to be working with CleanCo to bring a new source of energy to Queensland that will make a valuable contribution to energy security, and to enable CleanCo to manage its overall energy mix to minimise its carbon emissions,” Mr McCaul said.

He added that the company was continuing its marketing efforts for further contracts given the large resource base at the Mahalo Gas Hub.

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