Australia's Tamboran signs deals to supply LNG to BP and Shell (updated)

Tamboran Resources

23/06/2023 02:40

(Adds details of agreement in paragraph 2, CEO quote in
paragraph 3, details on project in paragraph 4 and background in
paragraph 5)
       June 23 (Reuters) - Australia's Tamboran Resources
 TBN.AX  on Friday announced two non-binding agreements to
supply 4.4 million tonnes of liquefied natural gas a year to BP
 BP.L  and Shell  SHEL.L  from its proposed Northern Territory
LNG (NTLNG) project.
    Under the memorandum of understandings (MOUs) singed with BP
Singapore and Shell Eastern Trading, Tamboran will supply 2.2
million tonnes of LNG per annum (MTPA) each over a 20-year
period from the NTLNG project. 
    "Securing these MOUs with BP and Shell is a significant step
in progressing the proposed NTLNG development at Middle Arm,"
Tamboran CEO Joel Riddle said in a statement.
    The company expects a formal execution of the LNG sale and
purchase agreements in 2025 and is currently targeting first LNG
production from the NTLNG project by 2030.
    Tamboran had previously said the NTLNG project represents
the first fully integrated onshore LNG development in Northern
Australia, where upstream, midstream and downstream production
and processing are based in the Northern Territory. 

 (Reporting by Jaskiran Singh in Bengaluru; Editing by Rashmi
Aich and Subhranshu Sahu)
 ((Jaskiran.Singh@thomsonreuters.com;))