Macquarie Mereenie & Ors

Summary

On 29 July 2021, the ACCC received an application for authorisation from Central Petroleum Limited, Central Petroleum Mereenie Pty Ltd (as trustee for the Central Petroleum Unit Trust) and Macquarie Mereenie Pty Ltd (the Applicants) to jointly market natural gas produced out of the Mereenie gas field (which is operated through a joint venture arrangement).

Authorisation to jointly market the natural gas produced out of the Mereenie gas field was previously granted by the ACCC on 29 March 2018 for a period of three years (in relation to joint marketing) and ten years (in relation to giving effect to contracts), see Authorisation AA1000398.

On 7 October 2021, the ACCC granted interim authorisation with a condition.

On 19 November 2021, the ACCC issued a draft determination proposing to grant conditional authorisation to enable current and future participants in the Mereenie gas field joint venture to engage in the conduct proposed by the Applicants. A copy of the draft determination and interim authorisation decision is available below.

On 27 January 2022, the ACCC issued a determination granting authorisation to enable current and future participants in the Mereenie gas field joint venture to:

  • until 28 February 2027, jointly market gas from the Mereenie gas field,
  • until 28 February 2027, make gas supply agreements (GSAs) with customers for the supply of Mereenie gas that contain common terms and conditions (including as to price) and that expire on or before 28 February 2032, and
  • until 28 February 2032, give effect to any such GSAs (entered into during the period until 28 February 2027).

Applicant(s)

  • Central Petroleum Limited
  • Central Petroleum Mereenie Pty Ltd as trustee for the Central Petroleum Mereenie Unit Trust
  • Macquarie Mereenie Pty Ltd

Authorisation number(s)

  • AA1000564-1