Shell and BP sign LNG trade deals with Australia

Shell and BP have signed MoUs with Tamboran Resources for the supply of 4.4 million tonnes of LNG per year from the latter company’s proposed NTLNG project in northern Australia, the Australian company announced on Friday.

The non-binding agreements will see volumes of 2.2 million tonnes of LNG per year each sent to the buyers over a 20-year period.

Located in the Northern Territory, NTLNG represents the first onshore LNG development in northern Australia.

Gas will be supplied from Tamboran Resources’ Beetaloo Basin assets.

FEED works on the project are expected to be complete in 2024, with formal LNG sale and purchase agreements inked in 2025.

“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 6.6 million tonnes per year,” said Joel Riddle, managing director and CEO of Tamboran Resources.