TAMBORIN has upped the ante in its commitment to East Coast Gas supplies by signing non-binding Letters of Intent for an additional 90-125TJ per day (33-45 PJ per annum) with Alinta Energy and ENGIE.
This increases the total potential volume of Tamboran’s low-reservoir CO₂ Beetaloo Basin gas supply to 600 – 875 TJ per day (220 – 320 PJ per annum) for up to 10 – 15 years.
Tamboran said the LOIs are conditional upon the Parties agreeing to non-binding term sheets and working toward executing binding Gas Sales Agreements, including purchase price, transport arrangements and other key commercial terms.
On securing binding GSAs with the Parties, Tamboran said it would progress APA Group’s proposed pipeline between the Beetaloo Basin and the East Coast gas transmission network.
Tamboran plans to commence first gas via the new proposed Beetaloo to East Coast pipeline in 2028, subject to commercial flow rates from the explorer’s Beetaloo Basin assets and standard approvals.
Temboran said the additional volume initiatives demonstrated the long-term interest in securing gas for Australia’s East Coast, where current supply is expected to fall significantly in coming years due to a lack of investment and slow approvals.
Tamboran Managing Director and CEO, Joel Riddle, said: “We continue to experience significant interest in purchasing low-reservoir CO₂ gas from our Beetaloo Basin assets delivered into the East Coast over the long term. We believe this demonstrates the longevity of demand for gas on the East Coast.
“The total volume under interest from the six parties we have received LOIs from to date reflects ~40 – 55 per cent of 2023 East Coast gas demand (excluding LNG) as forecast by the Australian Energy Market Operator (AEMO). We look forward to working closely with the buyers to support their ongoing gas needs and provide energy security to Australians in the Northern Territory and East Coast over the long term.”
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