The joint venture (JV) partners of the Waitsia gas project, in Western Australia, have signed a non-binding term sheet with AGL Wholesale Gas (AGL) for the first gas from the Stage 2 Waitsia project.
ASX-listed AWE on Monday said that the term sheet set out the commercial terms for the sale of 15 TJ/D of gas, or 5.5 PJ/y to AGL from the Stage 2 project. This equated to 15% of the Stage 2 nominal daily production capacity, and was a material contribution towards underwriting the project.