Oct 19 (LNGJ) - Beach Energy, the Australian exploration and production company, said its work programme was progressing on the Waitsia gas field in the onshore Perth Basin of Western Australia towards first LNG sales in the second half of 2023 to BP of the UK for five years. The Waitsia gas project is a joint venture with Mitsui of Japan.
“On the West Coast, we will soon be the newest entrant to the global LNG market. This revenue stream will be transformational for Beach and provide fast payback of the project’s capital outlay,” said the company in a quarterly activities report. Pro-forma sales revenue for the first fiscal 2023 quarter to the end of September 2022 amounted to A$437M (US$275.4M), an increase on the prior-year quarter’s A$388M.
