Tamboran response to Greens’ changes to Safeguard Mechanism

Tamboran Resources Limited (ASX: TBN) Managing Director and CEO, Joel Riddle, said:

“Tamboran welcomes the certainty arising from the Commonwealth Government’s Safeguard Mechanism legislation and the implications for the Beetaloo Basin.

“The Safeguard Mechanism amendments legislate the existing Net Zero vision Tamboran has for the Beetaloo Basin and is a vindication of our industry-leading plan for sustainable development.

“Tamboran is already leveraging the low carbon gas we have the Beetaloo Basin to be Net Zero in our Company’s Scope 1 and 2 emissions from first commercial production.”

“The Greens have claimed these amendments restrict the Beetaloo Basin’s development. This is 100 per cent wrong. Tamboran’s progressive Sustainability Plan was and is doing everything already called for in these amendments. This is a decisive political failure for the Greens who have campaigned to destroy industry, jobs and real progress on emissions reductions.

“The amendments the Greens demanded to the Safeguard Mechanism are captured already under existing 2017 NT Government’s Pepper Inquiry that has been guiding our development for many years.

“Mr Bowen’s statement states it all, the requirements placed on the Beetaloo Basin’s development simply have to comply with the Pepper Inquiry’s recommendation to use available technology and policy to achieve Net Zero Scope 1 emissions.”

“Tamboran’s low carbon gas and our Net Zero vision have the capacity to change the energy landscape of Australia. It ensures lower energy prices, energy security, and growing jobs and economy of the Northern Territory, while at the same time reducing our national emissions through fast-tracking low carbon gas and encouraging the transition away from coal-fired power.”

“If the Greens were really committed to Net Zero, they would get on board with Tamboran and the Beetaloo Basin as Australia’s greatest emissions reduction initiative.”

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