Managing Director David Maxwell said: “Today’s FID declaration is the culmination of five years’ effort under our gas strategy to identify, secure and develop gas resources best placed to supply southeast Australia with a new source of gas supply.
“We now have a fully funded gas project that is proceeding on schedule to deliver a new gas supply…in 2019.”
Around 75% of the Sole field’s gas has been contracted under long-term agreements with AGL Energy, EnergyAustralia, Alinta Energy, and O-I Australia.
APA Group will acquire, upgrade, and operate the onshore Orbost Gas Plant to process the gas.
Sole is in the VIC/L32 permit in the Gippsland basin offshore Victoria, 65 km (40 mi) from the Orbost Gas Plant.