RE: Tamboran sign binding GSA with Northern Territory Government23 Apr 2024 07:15
Tamboran Resources Corporation (ASX: TBN) Managing Director and CEO, Joel Riddle, said:
“We are proud to deliver on our commitment to provide the Northern Territory Government with long-term
supply of gas from the Beetaloo Basin. Tamboran has always promised that our first gas production from
the Basin would be to the benefit of Territorians and we are excited to play our part in boosting energy
security in the Northern Territory.
“This is a transformational development for Tamboran and our partners, after ten years of hard work and
more than A$500 million invested in Beetaloo exploration and appraisal activities. This represents a major
milestone and puts Tamboran on a path where revenue from gas sales will support funding our future
development phases, including supply to the East Coast gas market. In addition, the proposed Pilot Project
is expected to provide initial royalties to both the Northern Territory Government and Traditional Owners
within the region.
“With electricity in the Northern Territory predominantly sourced from gas-fired power, it is key that the
Northern Territory has a readily available gas supply to keep the lights on. Due to the use of natural gas in
the electricity supply, the Northern Territory is well below the national average for emissions intensity
across Australia’s electricity network, especially NSW, Victoria and Queensland who rely heavily on coal.”