The MoU for LNG supply is for 20 years. Credit: Mike Mareen via Shutterstock.

Tamboran Resources has signed two non-binding memorandum of understanding (MoUs) with bp and Shell to supply liquified natural gas (LNG).

Under the agreement, bp unit bp Singapore, and Shell Eastern Trading, a subsidiary of Shell, will each buy up to 2.2 million tonnes of LNG per annum (mtpa).

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The MoU is for a period of 20 years and gas will be supplied from the company’s proposed Northern Territory LNG (NTLNG) project at Middle Arm in Australia.

The Australian gas company anticipates completing the front-end engineering design for the project in 2024 and looks at formally executing the LNG sale and purchase agreements in 2025.

Tamboran Resources managing director and CEO Joel Riddle said: “Securing these MOUs with bp and Shell is a significant step in progressing the proposed NTLNG development at Middle Arm. 

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“bp and Shell are two of the world’s largest LNG portfolio trading and energy companies and provide important and credible counterparties for Tamboran to progress financing discussions to support the sanctioning of the NTLNG project, capable of producing up to 6.6mtpa.”

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Separately, the company announced that it has selected energy infrastructure company APA Group to build a pipeline for its Beetaloo Basin development.

The companies have signed a terms sheet to connect Tamboran’s Beetaloo Basin assets to Australia’s domestic East Coast gas market and Tamboran’s prospective NTLNG project. 

Commenting on the partnership with APA, Tamboran Resources managing director and CEO Joel Riddle said: “We are excited to be working closely with APA Group, the largest and most respected pipeline operator in Australia, to commercialise our low reservoir CO₂ gas in the Beetaloo Basin via access to the Northern Territory, Australia’s East Coast and international LNG markets.”