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NuEnergy Gas Limited ( (AU:NGY) ) has provided an announcement.
NuEnergy Gas Limited has signed a binding Gas Sales and Purchase Agreement with PT Perusahaan Gas Negara Tbk for the sale of coal bed methane from its Tanjung Enim Plan of Development. This agreement, expected to commence gas sales in the first half of 2026, aligns with Indonesia’s energy transition goals by contributing to the domestic gas supply chain and reducing import reliance. The project, strategically located near key economic regions, marks Indonesia’s first commercial-scale CBM development and is set to enhance energy resilience and economic growth.
More about NuEnergy Gas Limited
NuEnergy Gas Limited is an independent clean energy company focused on developing unconventional gas assets in Indonesia. The company aims to provide superior value to investors by supplying clean energy to meet the growing demands of Indonesia’s rapidly expanding economy. NuEnergy holds three onshore coal bed methane (CBM) Production Sharing Contracts in South Sumatra and is committed to transitioning these assets from exploration to development, integrating them as a CBM hub for sustainable energy supply.
YTD Price Performance: 50.0%
Average Trading Volume: 154,701
Technical Sentiment Signal: Buy
Current Market Cap: A$55.65M
Learn more about NGY stock on TipRanks’ Stock Analysis page.