May 25, 2026 – 2.16pmGas junior Amplitude Energy will buy most of its larger rival Beach Energy’s stake in a gas discovery off the Victoria coast as part of a $130 million deal that is coloured by concerns about the impact of the Albanese government’s domestic reserve plan on prices.The former Cooper Energy is acquiring 50 per cent of the undeveloped Artisan field in the Otway Basin in a move that will bring forward gas production to 2028 and beef up volumes for Amplitude’s East Coast Supply Project, which is due online that year.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Amplitude, Beach strike gas deal amid reservation price worries
Beach Energy will sell out of the Artisan gas discovery offshore Victoria, the gas will now be developed more cheaply using Amplitude Energy’s infrastructure.
TL;DRAI
Amplitude Energy (formerly Cooper Energy) is acquiring a 50% stake in Beach Energy's undeveloped Artisan gas field in the Otway Basin for $130 million, targeting production by 2028 as part of its East Coast Supply Project. The deal signals accelerating consolidation in Australian gas ahead of a domestic supply crunch, though the Albanese government's gas reservation policy remains a key pricing risk for project economics.
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