Amplitude Energy Secures Gas Supply Deal with AGL for ECSP Project

Amplitude Energy has signed a binding agreement to supply approximately 20 petajoules of gas to AGL Energy from its East Coast Supply Project. The deal, set to begin in 2028, reflects tightening supply conditions, with pricing linked to oil benchmarks.

(Reuters) — Australia’s Amplitude Energy has signed a binding agreement to supply natural gas from its East Coast Supply Project (ECSP) to AGL Energy, the country’s largest power producer.

The deal covers approximately 20 petajoules of gas over an initial four-year period, with supply expected to begin in the second half of 2028. The agreement supports Amplitude’s efforts to secure long-term demand for its ECSP development in the Otway region, while reinforcing AGL’s strategy to lock in reliable domestic gas supply.

Pricing under the contract is linked to oil benchmarks, a structure more commonly associated with LNG exports than domestic pipeline gas. The approach reflects tightening supply conditions and evolving pricing dynamics on Australia’s east coast gas market.

Amplitude produces gas from the Otway and Gippsland basins and continues to advance new supply in southeastern Australia.