Vintage Energy Ltd – Vali Gas Joint Venture

Summary

Vintage Energy Ltd, Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd (collectively, the Applicants) seek authorisation to jointly market and give effect to supply agreements with customers with common terms and conditions (including price) for gas developed from the new Vali gas field in the Queensland Cooper/Eromanga Basin. The Vali gas field development project is owned by the Applicants pursuant to a joint venture agreement (Vintage 50%, Metgasco 25% and Bridgeport 25%).

The Applicants seek authorisation for a period of 5 years to give effect to supply agreements with customers which may have gas supply terms of up to 15 years.

The Applicants have also requested interim authorisation to negotiate and enter into: long term gas supply agreements with customers (conditional on final authorisation being granted); and binding short term gas supply agreements with customers for interruptible supply of gas (until 31 December 2021).

On 29 January 2021, the ACCC granted interim authorisation to enable the Applicants to engage in the conduct requested.

The interim authorisation decision and a copy of the Applicants’ application for authorisation are available below.

An indicative timetable is set out below for your information.

Indicative date

Stage in assessment process

10 December 2020

Lodgement of application and supporting submission.

16 December 2020

Public consultation process begins.

18 January 2021

Closing date for submissions on interim and substantive authorisation.

29 January 2021

ACCC decision regarding interim authorisation.

February 2021

Applicant responds to issues raised in the public consultation process.

March 2021

Draft determination.

March/April 2021

Public consultation on draft determination including any conference if called.

April 2021

Final determination.

Applicant(s)

  • Metgasco Ltd
  • Vintage Energy Ltd
  • Bridgeport (Cooper Basin) Pty Ltd

Authorisation number(s)

  • AA1000538-1

Applications

Decisions

Document title Date

Consultations

Submissions - before draft decision

Document title Date