LNG

Oct 20 (LNGJ) - Beach Energy, Australia's newest LNG firm after signing a first supply deal with BP of the UK from the Waitsia Gas project in the onshore Perth Basin of Western Australia, reported a net cash position for its fiscal first quarter. “Liquidity increased to A$643 million (US$480) with net cash of A$43M at 30 September 2021,” said the exploration and production company.

   “Sales revenue of A$388M was down 8 percent from the previous quarter and partially offset by higher liquids prices,” it added. Beach’s agreement with BP is for all of the company's 3.75 million tonnes per annum of Waitsia project volumes from the second half of 2023. Beach’s 50-50 partner in the project is Japanese trading house Mitsui.