AUSTRALIA: Tamboran Resources’s (ASX: TBN) development of the Beetaloo Basin gas project has been granted Major Project Status by the Northern Territory government.
This is a significant milestone that provides regulatory support and streamlined approvals as the company progresses its plans.
The Major Project Status designation acknowledges the Beetaloo Basin’s importance to the Territory’s economic prosperity and job creation. It offers Tamboran several key benefits, including:
- Formal recognition by the NT government of the project’s significance
- Continued government support as Tamboran advances its local development plans, with first gas supply prioritised for Territorians ahead of east coast and LNG export projects
- Assistance with mapping the regulatory approval process
- A dedicated case manager to facilitate coordinated and streamlined communications within the government
This status demonstrates the NT government’s backing for Tamboran’s integrated development approach in the Beetaloo Basin, aimed at providing energy security and substantial employment opportunities for Northern Territorians.
Tamboran Resources Managing Director and CEO Joel Riddle welcomed the announcement, stating: “Recognition of Major Project Status demonstrates NTG’s support for the development of the Beetaloo Basin. It also recognises Tamboran’s commitment to work closely with the government to ensure the benefits of our development are delivered to all stakeholders within the Territory.”
Riddle highlighted the project’s potential to create 13,000 jobs and increase economic activity by A$17 billion by 2040, aligning with the NT government’s long-term economic plan.
He emphasised Tamboran‘s focus on delivering energy security, job opportunities, and substantial royalties to Native Title Holders and the NT government for decades to come.
The Beetaloo Basin gas project, located in the Northern Territory, is a strategically significant development that aims to unlock the region’s vast natural gas resources, driving economic growth and energy self-sufficiency for the Territory and the broader Australian market.
