The backhaul advantage is IPLs, as they switch contracted gas obtained upstream from Ballera/Wulumbilla to Gibson Island instead of Mt Isa - reducing their exposure to the expensive spot market. They are a very motivated customer and likely agreed a good price for CTP's gas.
APA would like gas to go up CGP, instead their volumes to Brisbane rise so they still make a dollar. Interestingly, as of right now, the AEMO page shows 8Td/daty travelling north up CGP and 25Tj/day travelling WEST on SWQP. So Brisbane is currently being supplied from Woleebee Creek. Who is backhauling what to whom?
A pipeline network with many suppliers and many customers is a beautiful thing.
Ash
CTP Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
