Australia's Blue Energy eyes best day in 2 months on gas supply deal

AGL Energy

13/02/2024 02:37

** Shares of Blue Energy  BLU.AX  rise as much as 33.3% to
A$0.02, set for best day since Dec. 11 - if current gains hold 
    ** Stock hits highest level since Jan. 23 
    ** Oil and gas co says it executed an agreement to supply up
to 300 petajoules of gas to AGl Energy's  AGL.AX  Wallumbilla
facility in Queensland for over a 10-year period
    ** Says gas will be supplied from its Northern Bowen Basin
coal seam gas tenure. The annual contract volume is for supply
of between 20 and 30 PJ, starting in 2028
    ** About 3.3 mln BLU shares change hands, compared with the
30-day average volume of 1.9 mln
    ** Blue Energy stock down 37.5% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))