Business Services Industry
Woodside, TXU in $1b Otway gas deal.
Australasian Business Intelligence, August, 2002
Aug 15, 2002 (The Age
ABIX via COMTEX) -- Woodside Petroleum and TXU have announced a deal to provide Victoria and South Australia with gas from the Otway Basin. The $A1bn agreement marks the end of the 30-year monopoly on Victorian gas supply that Esso and BHP Billiton have enjoyed. Under the deal, which was finalised on 14 August 2002, TXU has agreed to take a maximum of 380 petajoules of gas over the next 10 years. To service the deal, Woodside will develop the Thylacene and Geographe gas fields in the Otway Basin. The development of these reserves will establish the Otway Basin as a major source of gas for Southern Australia, in direct competition with the Cooper and Gippsland Basins.
Publication Date: 16 August 2002
WOODSIDE PETROLEUM...
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