Beach Energy Ltd (ASX:BPT, OTC:BEPTF) has agreed a two-year gas supply contract with recycling and packaging manufacturer Visy, which makes paper, cardboard, glass and food-and-beverage packaging across sites in South Australia, Victoria, New South Wales and Queensland.
Chief executive Brett Woods said the agreement “aligns with our company vision to become Australia’s leading supplier of domestic energy,” noting Visy is among the largest industrial buyers in the east coast gas market. The Stokes family-backed producer also reiterated the role of gas in Australia’s transition to a lower-carbon economy.
Beach supplies the east coast domestic market from operated and non-operated assets in South Australia, Victoria and Queensland, and expects to market about 19% of regional supply in FY25.
BPT shares were little changed around $1.26 in afternoon trade. Seven Group Holdings (SGH), controlled by the Stokes family, holds about 30% of Beach.