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Tamboran Resources: Signs LOI's With Four Domestic Energy Buyers

02 Aug 2023 12:20 PM | Stephanie Berlin (Administrator)

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. 

To view full ASX announcement, click here.

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