The Queensland Petroleum Exploration Association (QUPEX) recently invited Westside Chief Commercial Officer, Matt Wallach, to share Westside’s views on East Coast gas policy at their September Luncheon.
In his presentation, Mr Wallach addressed the East Coast gas policy and explained that increasing supply was the most effective way to meet domestic demand and place downward pressure on prices.
“We believe that the best position is to encourage new supply, rather than just diverting existing,” explains Mr Wallach.
“The market benefits from both domestic and international sales. Our agreement with GLNG has been the foundation for our investment in the Meridian Field. This innovative agreement provided the capacity to flexibly build supply. Once constructed, infrastructure was leveraged for domestic sales.”
Westside has gone through significant transformation over the past nine years to become a low-cost operator with a large reserve base. It supplies both the GLNG and the domestic market following a two-year gas sale agreement with Orica in 2018. In partnership with Mitsui E&P Australia, Westside now has 600 square kilometres of gas-rich acreage, providing a strong basis for its next phase of growth at a pivotal time for the Australian natural gas market.