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An announcement from Comet Ridge Ltd ( (AU:COI) ) is now available.
Comet Ridge Limited has announced that the Mahalo Joint Venture, in which it holds a 57.14% stake, has appointed Jemena to undertake Front End Engineering Design (FEED) for the Mahalo Gas Hub Pipeline (MGHP). This pipeline will connect the Mahalo JV Project to key gas market hubs in Queensland, aiming to address the looming gas supply gap in Australia’s east coast energy market. Jemena, a well-established energy asset operator, will fund the FEED cost and may proceed with constructing the pipeline on a build, own, and operate basis, pending a final investment decision. This development marks a significant milestone for Comet Ridge, enhancing its strategic position in the regional gas market.
More about Comet Ridge Ltd
Comet Ridge Limited is a company involved in the energy sector, primarily focusing on gas exploration and development. It operates in the Australian market, particularly targeting the east coast energy market to address the anticipated gas supply gap.
YTD Price Performance: -10.71%
Average Trading Volume: 1,020,433
Technical Sentiment Signal: Buy
Current Market Cap: A$155.5M
Learn more about COI stock on TipRanks’ Stock Analysis page.