Tamboran signs four LOIs for 510 – 750 TJ per day with potential East Coast gas buyers

Highlights

• Tamboran Resources has signed four separate non-binding Letters of Intent (LOIs) with Origin, AGL, EnergyAustralia and Shell Energy Australia (together the “Parties”) to potentially purchase in aggregate 510 - 750 TJ per day (185 – 270 PJ per annum) of gas from Tamboran’s low-reservoir CO2 Beetaloo Basin gas assets for a period of up to 10 – 15 years.

• Tamboran will separately work with the Parties toward executing separate binding fully termed Gas Sales Agreements (GSAs), including purchase price, transport arrangements and other key commercial terms.

• First gas is targeted to commence in 2028, subject to commercial flow rates from Tamboran’s Beetaloo Basin assets.

• The binding GSAs support the progress of APA Group’s (ASX: APA) proposed pipeline between the Beetaloo Basin and the East Coast gas transmission network.

• APA has commenced preliminary land access approvals and pre-engineering studies with the objective of potentially connecting the Beetaloo Basin to the existing East Coast Gas Grid.

• The LOIs demonstrate the ongoing importance of natural gas in Australia’s energy mix. 

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