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Black Mountain shows gas compatibility

28 April 2022 12:56
ASX: BME

Black Mountain Energy confirmed gas from Valhalla is suitable to blend for conversion to in-demand LNG from a completed study on the Canning Basin project in Western Australia.

Now proven capable of locking into the Dampier-Bunbury pipeline powering the state, the energy explorer claim a milestone and grow confidence in domestic and export options for its massive resource.

Export exemption and environmental approvals in-hand, Valhalla holds a goal of producing minimum 200-600 terajoules a day from an independently estimated 11.8 trillion cubic feet of prospective gas.

The Canning Basin stands as of the world’s largest undeveloped gas reservoirs and lies adjacent to three natural gas markets to shore up energy security for a state ramping up exploration.

Natural gas sits in high demand, solidifying year-on-year gains of 152 per cent from pipeline freeze-offs and Russian ruble demands adding to global requirements.

The company will meanwhile continue discussions with potential offtake partners and pipeline operators.

BME’s Australian Stock Exchange-listed share price has risen 3.33 per cent today, selling at 16c (10.40 am UTC+ 8 hours).

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