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Main Forum•Metagasco to power 30,000 houses with clean gas power station
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Metgasco (ASX:MEL) is pleased to advise that the NSW Department of Planning has approved the development of the Richmond Valley Power Station (“RVPS”).
The Richmond Valley Power Station is a 30 megawatt (MW) power station located approximately 4 km from the town of Casino. The project will produce enough power to supply 30,000 homes in the northern rivers region.
Importantly it will deliver gas fired electric power to the north coast region of NSW at significantly lower carbon emissions than coal fired electricity.
The installation of a reliable power supply in the Casino area will also augment security of supply in this regional community.
The power station will consume approximately 2.3 Petajoules (“PJ”) of gas per year. This will be supplied by natural gas from the Casino gas project which will include the Kingfisher conventional gas field, recently discovered by Metgasco, and coal seam gas.
Metgasco has gas reserves of 397 PJ in the Proved and Probable (“2P”) category in PEL 16, which is sufficient to supply the power station for over 150 years, well beyond the expected life of the facility. The Richmond Valley power station is expected to monetise approximately 34 PJ over the 15 year life of the project.
