Tamboran Resources have entered into three formal and binding agreements with APA Group to support the development of Tamboran’s Beetaloo Basin assets.
This includes:
- an Early Development Agreement relating to the development of the ~35-kilometre Sturt Plateau Pipeline (SPP) that is planned to connect the proposed 40 million cubic feet per day (MMcf/d) Sturt Plateau Compression Facility (SPCF) to the Amadeus Gas Pipeline (AGP) and, subject to achieving project milestones and executing further agreements, is targeting an online date as early as H2 2025
- an Early Development Agreement for development of a Beetaloo Basin to East Coast gas pipeline that aims to deliver material volumes (circa 500 MMcf/d or more) into Australia’s East Coast gas market and, subject to achieving project milestones and executing further agreements, is targeting an online date as early as 2028
- a Partnering Agreement under which Tamboran agrees to work exclusively with APA Group and, subject to conditions being met, provides an option for Tamboran to acquire up to 15 per cent of any Beetaloo pipeline projects in the lead up to Final Investment Decision (FID) (excluding the SPP)
Tamboran Resources Corporation Managing Director and CEO Joel Riddle said that he believes that the development of the Beetaloo Basin — which has potential to supply gas into the domestic market for the duration of the energy transition — has a major role to play in proving energy security for Australian families.
“Without local investment in new gas, Australians could be relying on gas imports from other countries at international gas prices.
“I also see the basin playing a role in the energy transition by supporting the local uptake of renewable energy, as wind and solar displaces coal fired power.
“Without natural gas, grid stability would be increasingly more difficult and more expensive,” said Riddle.
Since the execution of the letter agreement in June 2023, APA has made good progress on the Beetaloo Basin pipeline projects.
Under the early development agreements, APA has agreed a process to continue development of the proposed pipelines with early works expenditure of up to $10 million on the basis that Tamboran continues to progress and achieve agreed milestones in relation to the proposed Shenandoah South Pilot Project.
The parties will commence negotiations on a binding Gas Transportation Agreement (GTA) targeting execution in H1 2024 subject to Tamboran achieving certain project milestones.
