Emerging east coast gas supplier Cooper Energy has signalled an up to five-fold production increase in 2019-20 after its $355 million Sole project comes online off the coast of Victoria and it taps into the tight market that has seen industrial customers scrambling for supply.

Managing director David Maxwell said output by the junior should rise to about 6 million barrels of oil equivalent in the 2020 financial year, representing an increase of "between four and five" times current levels.