Latest Australian Energy Market News

3D Energi has commenced drilling the Essington-1 well offshore Victoria, aiming to unlock a combined gross mean prospective gas resource of 262 billion cubic feet. This marks the start of a pivotal exploration phase in the Otway Basin to bolster Australia’s East Coast gas supply.

AGL Energy has agreed to purchase four new gas turbines for $185 million to develop the Kwinana Swift Gas 2 project, securing 176MW of reserve capacity to support Western Australia’s energy transition.

Critical Minerals Group (ASX – CMG) reports significant progress in vanadium flow battery technology deployment, international supply chain engagements, and mine feasibility studies, positioning itself at the forefront of Australia’s renewable energy storage future.

Strike Energy has made significant strides in its integrated gas-to-power strategy, advancing the South Erregulla Peaking Gas Power Station and securing a major $86 million investment from Carnarvon Energy. The company also confirmed a substantial 180 PJ contingent resource at Ocean Hill, positioning itself strongly in Western Australia's evolving energy market.

Frontier Energy secures 88.06 MW of peak capacity credits for its Waroona Renewable Energy Project, guaranteeing $160 million in revenue over five years and underpinning its financing strategy.

Central Petroleum has secured a new 1.3 petajoule gas supply agreement with McArthur River Mining, enhancing cash flow certainty through fixed pricing and take-or-pay terms.

Strike Energy has reached key milestones in its South Erregulla Peaking Power Plant project, with engine installations underway and a significant forecast increase in capacity payments boosting revenue prospects.

Frontier Energy unveils an ambitious multi-stage expansion of its Waroona Renewable Energy Project, targeting 1GW of solar and 660MW of battery storage to support Western Australia’s coal phase-out.

Lakes Blue Energy reports strong gas shows and excellent reservoir quality from its Wombat-5 appraisal well in Victoria’s Gippsland Basin, setting the stage for imminent production testing and potential field development.

Lakes Blue Energy has wrapped up drilling at its Wombat-5 well in Victoria’s Gippsland Basin, setting the stage for critical gas flow testing to assess commercial potential.

TPC Consolidated and Wollar Solar Holding have agreed to extend key deadlines in their acquisition scheme as they await crucial FIRB approval, pushing the timeline into early 2026.

Omega Oil and Gas has raised A$46 million through a strongly oversubscribed institutional placement, positioning the company to advance its Canyon Project and expand its footprint in Queensland’s Taroom Trough. The capital injection will fund a 2026 drilling program and strategic partnerships amid looming east coast gas supply shortfalls.