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NuEnergy Gas Limited ( (AU:NGY) ) has issued an update.
NuEnergy Gas Limited has received approval from the Indonesian Ministry of Energy and Mineral Resources for its subsidiary, Dart Energy (Tanjung Enim) Pte Ltd, to sell 1 MMSCFD of coal bed methane to Indonesia’s state-owned gas distributor, PT Perusahaan Gas Negara Tbk. This approval is a crucial step in NuEnergy’s Early Gas Sales Initiative, part of a larger 25 MMSCFD production plan. The milestone supports Indonesia’s strategy to enhance domestic gas use and energy security, aligning with its goal of achieving Net Zero Emissions by 2060.
More about NuEnergy Gas Limited
NuEnergy Gas Limited is an independent clean energy company focused on developing unconventional gas assets in Indonesia. It aims to provide superior value to investors by supplying clean energy to meet Indonesia’s growing energy demands. The company holds three onshore coal bed methane Production Sharing Contracts in South Sumatra and is committed to transitioning these assets from exploration to development, integrating them into a CBM hub to supply sustainable clean energy locally.
YTD Price Performance: 94.44%
Average Trading Volume: 173,119
Technical Sentiment Signal: Buy
Current Market Cap: A$62.32M
For detailed information about NGY stock, go to TipRanks’ Stock Analysis page.