Under the agreement, Cooper Energy will supply five petajoules of natural gas annually for three years starting in January 2026, with the contract priced based on current market conditions.
“This agreement signifies the continued importance of gas in our economy. Gas is not just a transition fuel; it is a future fuel and will be needed in the long-term. It will continue to play a pivotal role in Australia to provide industrial heat and feedstock to manufacturers and flexible energy to support further integration of renewable energy into the electricity network. Domestic gas produced close to market is the lowest cost and lowest emission gas available to customers,” Cooper Energy Managing Director and CEO Jane Norman said.
EnergyAustralia Trading and Transition Executive Ross Edwards stated that the extension of the agreement with Cooper Energy is a significant step towards providing reliable and affordable energy to the company’s customers in the future.
“Natural gas has a critical role in supporting electricity supply during the energy transition. It allows our gas generation assets to support the firming of renewables in periods of low wind or solar generation and to ensure households and business get the energy they need in periods of peak demand. Securing reliable gas supply agreements means we can have greater confidence in a smooth energy transition,” Edwards added.