Central Petroleum Limited provided the following Northern Territory updated following the announcement made on 15 March 2024: Central and its Mereenie joint venture partners Macquarie Mereenie Pty Limited, NZOG Mereenie Pty Ltd. and Cue Mereenie Pty Ltd, have entered into an as-available supply agreement with Power and Water Corporation for the supply of up to 8.6 Petajoules of gas (2.1 PJ net to Central) to the end of 2024. The Blacktip field remains at low production levels, however, tail gas from Darwin LNG continues to supply the NT market. As a result, there is a small oversupply in the NT that is not sufficient to restart the Northern Gas Pipeline.

Consequently, the Mereenie gas field is currently curtailed by 10 - 15 TJ/d (2.5 - 3.75 TJ/d Central share). However, tail gas from Darwin LNG is anticipated to decline in the coming months, which would impact the current market dynamics and provide an opportunity for the Mereenie JV to increase supply under the new GSA.