Beach targets gas supplies for European markets

Australia’s Beach Petroleum Limited today announced its first foray into the European Oil and Gas industry by moving into Spain’s energy sector in a bid to become a long-term supplier to Europe’s high demand, high paying power markets.

The move is the first to be executed by Beach resulting from its decision, some 12 months ago, to expand its exploration activities outside of Australia and New Zealand. As part of this strategy, Beach expects to announce further international transactions in the near term.

The move will propel the top ranked mid-cap ASX-listed oil and gas company into Europe’s energy industry for the first time, adding to Beach’s exposure to substantial onshore and offshore oil, gas, coal seam gas and geothermal interests throughout Australia and New Zealand.