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Amplitude Energy ( (AU:AEL) ) has provided an announcement.
Amplitude Energy has signed a binding Foundation Gas Sales Agreement with AGL Energy for the supply of 20 petajoules of gas from its East Coast Supply Project over four years, with deliveries targeted to start in the second half of 2028. The contract is oil-linked and reflects current market conditions, though it remains conditional on the outcome of the project’s ongoing drilling campaign confirming sufficient reserves and deliverability.
The deal extends an existing commercial relationship between the two companies, following AGL’s role as a foundation buyer from Amplitude’s Sole gas project. Both parties framed the agreement as a response to strong demand for reliable domestic gas in Southeast Australia and as support for system reliability during the energy transition, underscoring Amplitude’s role in underpinning regional gas supply and AGL’s strategy to secure long-term domestic volumes.
The most recent analyst rating on (AU:AEL) stock is a Hold with a A$2.00 price target. To see the full list of analyst forecasts on Amplitude Energy stock, see the AU:AEL Stock Forecast page.
More about Amplitude Energy
Amplitude Energy Limited is an Australian gas production company focused on supplying the Southeast domestic gas market. It owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins near major demand centres, along with non-operated oil production in the Cooper Basin and a portfolio of long-term gas supply contracts and exploration prospects.
Average Trading Volume: 1,944,765
Technical Sentiment Signal: Sell
Current Market Cap: A$524.8M
For detailed information about AEL stock, go to TipRanks’ Stock Analysis page.