Major LNG project hits important milestone

lng, gas, beetaloo, tamboran

The Beetaloo Basin gas development has been elevated to major project status by the Northern Territory Government, but what does that mean for the project?

Tamboran Resources’ Beetaloo Basin project will develop a large shale gas field roughly 500km south-east of Darwin. Once operational in 2026, the project is expected to cover roughly two-thirds of the territory’s gas demands.

The NT Government signed a nine-year offtake agreement with Tamboran for the supply of gas from the project, with the option to extend the contract another six-and-a-half years.

Tamboran recently secured environmental approval to drill an additional 15 gas wells in the development area, significantly increasing the size of the project.

What is major project status?

Major project status enables strategically significant projects facing complex regulatory challenges to get extra support and coordinated approvals.

Benefits include whole of government support, coordination and facilitation, assistance in identifying and mapping regulatory approvals, a dedicated project case manager and facilitation of engagement with the Australian Government through a single point of contact.

In Tamboran’s case, the Beetaloo Basin project has been recognised for its importance to the territory’s economy.

“The Beetaloo Basin is an economically significant project for the NT, which is expected to deliver energy security and job opportunities to Territorians, and millions of dollars in royalties,” Tamboran Managing Director and Chief Executive Officer Joel Riddle said.

“We look forward to working closely with the Government in ensuring our development plays a major role in achieving the NT Government’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.”

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