An image of underground and ground storage tanks for liquefied gas
Share

The Beetaloo Basin project and Liquefied Natural Gas (LNG) export terminal has been awarded Major Project Status by the Northern Territory Government.  

The Northern Territory Government said that the status provides Tamboran Resources with significant benefits, including acknowledgement of the Beetaloo Basin’s significance to the Territory’s economic prosperity and working and training opportunities. 

The company recently secured approval of its environmental management plan by the independent EPA for the drilling and flow testing of more wells in the Beetaloo. Tamboran Resources has also completed its concept select process for a site it is seeking to develop at Middle Arm. 

The Northern Territory Government said that Territorians can have confidence that Tamboran’s integrated approach to development will support the growth of the on-shore gas industry in the Beetaloo Basin – which is expected to boost the Territory economy by over $17 billion and create thousands of working opportunities for many years to come – and support the development of the Middle Arm Sustainable Development Precinct. 

The Northern Territory Government has signed a deal with Tamboran Resources that will provide Territory gas for Territorians for nine years with an option to extend for another six-and-a-half years. This means the first gas from the Beetaloo Basin that is expected to be delivered to Territory power generators is expected in the first half of 2026. 

Northern Territory Chief Minister, Eva Lawler, said, “We’re backing the industries that get the Territory working – and that’s why my government is supporting the on-shore gas industry. 

“My commonsense plan will make sure that the benefits from Territory gas are spread right across the Territory for local residents, businesses and industry. 

“This is a key milestone for Tamboran Resources and it lets investors know the Territory is open for business – and this is where opportunity and reward are plentiful.” 

Northern Territory Minister for Mining, Mark Monaghan, said, “The Northern Territory will be the jurisdiction to deliver cleaner and more affordable energy to Australia and the world. 

“Territorians will benefit from backing in this industry.” 

Tamboran Resources’ Corporation Managing Director and CEO, Joel Riddle, said, “Recognition of Major Project Status demonstrates the Northern Territory Government’s support for the development of the Beetaloo Basin. It also recognises Tamboran Resources’ commitment to work closely with government to ensure the benefits of our development are delivered to all stakeholders within the Territory. 

“We look forward to working closely with the Government in ensuring our development plays a major role in achieving the NTG’s long-term economic plan, including the potential for the Beetaloo Basin to support thousands of new jobs and increase economic activity by $17 billion by 2040. 

“The Beetaloo Basin is an economically significant project for the Northern Territory, which is expected to deliver energy security and job opportunities to Territorians, and millions of dollars in royalties to Native Title Holders and the Northern Territory Government for decades to come.” 

Image credit: Mari Zaro/Shutterstock.com. 

Related articles
0 Comments

©2024 Energy Magazine. All rights reserved

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

Log in with your credentials

Forgot your details?