Metgasco (ASX: MEL) has secured the first sale from its Casino Gas Project in New South Wales, entering a binding agreement with Richmond Dairies.
The company will supply the local dairy manufacturer with natural gas as energy supply for Richmond’s manufacturing process.
First sales under the ten year agreement are planned for 2012.
Richmond Dairies processes milk from local farms to produce a range of specialty dairy products that are primarily sold in export markets.
Using natural gas will lower Richmond’s overall energy costs and provide a stable energy price environment over the next decade.
The agreement is subject to approvals for the installation of gas supply infrastructure to Richmond Dairy’s facilities.
The company will supply the local dairy manufacturer with natural gas as energy supply for Richmond’s manufacturing process.
First sales under the ten year agreement are planned for 2012.
Richmond Dairies processes milk from local farms to produce a range of specialty dairy products that are primarily sold in export markets.
Using natural gas will lower Richmond’s overall energy costs and provide a stable energy price environment over the next decade.
The agreement is subject to approvals for the installation of gas supply infrastructure to Richmond Dairy’s facilities.
Metgasco is focused on developing the coal seam gas and conventional gas resources of New South Wales' Clarence Moreton Basin.
Proactive Investors Australia
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