• The Mahalo Joint Venture has engaged Jemena to undertake Front End Engineering Design (FEED) on the planned Mahalo Gas Hub Pipeline (MGHP)
• Jemena is currently funding the Pipeline FEED cost
• The Pipeline FEED will run in parallel to the Mahalo JV Project Upstream FEED

Comet Ridge Limited (ASX:COI) is pleased to advise that the Mahalo JV participants (Comet Ridge 57.14% and Santos 42.86%) have executed an agreement with Jemena Queensland Gas Pipeline (1) Pty Ltd and Jemena Queensland Gas Pipeline (2) Pty Ltd (collectively, Jemena) to undertake Front End Engineering Design (FEED) on a new Mahalo Gas Hub Pipeline (MGHP). The proposed MGHP will be a DN250 (10 inch) Class 900 pipeline, connecting the planned Mahalo JV compression facilities to the Queensland Gas Pipeline (owned and operated by Jemena) and the GLNG Pipeline. It is proposed, subject to FID, the MGHP will connect the Mahalo JV's gas fields and processing facilities to the gas market hubs of Gladstone and Wallumbilla in Queensland. Jemena may construct the MGHP on a build, own and operate basis once Pipeline FEED is completed and subject to the Mahalo JV Project FID. Jemena is currently funding the cost of the Pipeline FEED which is intended to be rolled into the total pipeline construction cost assuming Jemena proceeds with construction of the MGHP. Comet Ridge Managing Director, Tor McCaul, said: 'Commencing Pipeline FEED is an important milestone for the Mahalo JV Project. All workstreams are now being progressed to enable a final investment decision to be reached at Mahalo, which is well positioned to contribute as a near-term solution to the growing strain on east coast gas markets. 'We are especially pleased to commence this relationship with Jemena, a high-quality pipeline operator in Australia that provides regional synergy to Comet Ridge for the transport of gas to key gas market hubs on the east coast.'

Comet Ridge plans to transition its Mahalo Gas Hub assets into meaningful gas supply into the east coast gas market.