QPM Energy

Queensland Pacific Metals has acquired the Moranbah gas project from Arrow Energy and AGL. Moranbah has over 240PJ of 2P gas reserves and 269PJ of 2C contingent resources. It is a mature producing asset with around 110 wells and infrastructure including a central processing facility.

Moranbah provides key benefits for Queensland Pacific's proposed Townsville Energy Chemicals Hub (TECH) nickel-cobalt project. It will help secure gas supply, with TECH requiring around 14PJ per year. Moranbah also facilitates Queensland Pacific's carbon abatement strategy by enabling connections to regional coal mines to capture waste mine gas.

The project has several revenue streams including gas supply to Dyno Nobel's ammonium nitrate plant and an agreement with the Townsville Power Station. Queensland Pacific is in negotiations with Dyno Nobel regarding an extended gas supply agreement post-2026. There is also potential for Dyno Nobel to provide funding to further develop Moranbah.

The acquisition transforms Queensland Pacific into a revenue generating gas producer. This provides cashflows during TECH's development and positions the company to benefit from expected electricity market volatility.