Tamboran Resources (‘Tamboran’) welcomes the opportunity to provide a submission to the inquiry into the Middle Arm Industrial Precinct.
Australia faces an energy supply crisis, with a growing risk of shortfalls in gas supply to the east coast market. Without government investment and support to encourage investment in the gas sector, Australian households and businesses could face increased blackouts and supply disruptions. This will not only hurt ordinary Australians and businesses, but also poses a significant security risk to the Australian Government.
As global markets recovered from COVID-19 lockdowns that reduced natural gas demand over the previous two years, global oil and gas supply was subsequently impacted by Russia’s invasion of the Ukraine in early 2022. In the NT, gas production from Eni’s Blacktip field has fallen away in recent years to approximately 50 TJ per day, leaving an impending gas shortage for Territorians.
The growing risk of gas supply shortfalls in Australia and in global markets is having a material impact on the cost of living for Australian families.
Right now, Australia has the opportunity to address those issues and secure an affordable and reliable domestic supply through our project in the Beetaloo Basin (‘Beetaloo’). The benefits of which will put downward pressure on gas prices, meaning cheaper electricity for Australian households and industry.
Tamboran’s project is poised to significantly contribute to the Australian Government’s goal of achieving Net Zero emissions by 2050 and meeting its commitments under the Paris Agreement. Subject to rigorous scientific and environmental assessments, Beetaloo gas will offer a dependable route for Australia’s energy transition. Additionally, the project will provide 2 neighbouring economies with access to reliable gas as an alternate to coal imports for their heavy emitters.
Subject to environmental approvals, our new gas project will support the creation of new jobs, providing a significant boost to the NT economy as well as secure, skilled jobs and business opportunities for locals. Tamboran is working with Native Title Holders and the Northern Land Council (‘NLC’) to ensure the project is a genuine partnership that represents significant and real economic benefits for the people of the NT.