Vintage Energy and Ors – Odin Field

Vintage Energy Ltd, on behalf of itself, Metgasco Ltd and Bridgeport (Cooper Basin) Pty Ltd (collectively, the Odin Gas Producers) sought authorisation to jointly market and give effect to gas supply agreements with customers with common terms and conditions (including price), relating to the supply of gas from the Odin gas field in the Cooper/Eromanga Basins (which are across the borders of South Australia and Queensland). The Odin field is a neighbouring gas field to the Vali field, in relation to which the Odin Gas Producers currently have authorisation for similar joint marketing arrangements. 

The Odin Gas Producers sought authorisation for joint marketing for a period of 5 years, and to give effect to gas supply agreements with customers entered during that period which may have gas supply terms of up to 15 years (i.e. up to and including 2043).

On 16 February 2023, the ACCC issued a draft determination proposing to grant authorisation. The ACCC also granted interim authorisation to enable the parties to begin jointly marketing and entering into conditional gas supply agreements with customers, and supplying minor quantities of gas from the Odin field to customers on an interruptible basis.

On 25 May 2023, the ACCC issued a final determination granting authorisation to enable the Odin Gas Producers to jointly market gas produced from the Odin field for a period of 5 years, and to give effect to gas supply agreements entered during the 5-year period which contain common terms and conditions (including price) and a maximum gas supply term of 15 years until 16 June 2043.

Copies of the ACCC’s final determination, draft determination and interim authorisation decision and the application for authorisation are available below