Queensland Gas exceeds sales forecast by 25%


Queensland Gas Company (QGC) reported gas sales of 618 terajoules (TJ) from the Berwyndale South Gasfield for the last quarter, nearly 25% above the forecast of 500 TJ for May and June Sales made on 8 May 2006. The energy supplier reported increasing sales as gas production at the Berwyndale South Gasfield continues to climb.
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AdvertisementThe daily rate of sales in the last week exceeded 17 PJ per annum, which equals the contractual sales position the company had set itself to reach for October 2006. “This high level of gas production at Berwyndale South Gasfield is being maintained, with current production exceeding the 6 petajoules rate,” the company said. Queensland Gas said that it was an “impressive” performance given that gas production only began on 8th May and it is still before the official commencement date of either its CS Energy Contract or the Braemar Power Station Contract. Managing director of Queensland Gas, Richard Cottee, reported that the production performance from Berwyndale South was achieved after only eight weeks of production, and demonstrates the thoroughness of the commissioning process at the Gasfield and the world-class quality of the gas reserve base at Berwyndale South. The company advised that the high level of gas sales had been due to the gas supply shortfall faced by CS Energy who sought additional gas supplies from Queensland Gas to make up the deficit. The group noted that it had also commenced gas sales to Braemar Power Station on 22 June, three months ahead of schedule. Mr Cottee explained that the gas production was coming from high production/low cost wells, that in many cases don’t even require pumping. “This translates into a highly profitable operation,” he explained. Queensland Gas is the operator and majority owner (90%) of the Berwyndale South Gasfield with Sentient Gas Australia (10%). The field is QGC’s first commercial coal seam gas operation and is located close to Chinchilla in southern Queensland. At 1230 AEST, shares in Queensland Gas were up 4c to $0.73.