Tamboran Resources Corporation opening remarks, Mr. Joel Riddle
Thank-you Senator, firstly I’d like to acknowledge the traditional custodians of country throughout Australia and their connections to land, sea and community. We pay our respects to their elders, past and present, to all Australia’s Indigenous peoples, including the Native Title Holders and Traditional Owners of the areas that we work in.
Good morning also to all Committee Members. Thank you for the opportunity to provide the Committee with Tamboran Resources’ perspective on the importance of Middle Arm.
The Precinct is a master-planned industrial development – the first of its kind in Australia – that will facilitate major investment and export opportunities in the rapidly expanding sectors of critical minerals processing, hydrogen, carbon capture, advanced manufacturing and lower emission energy and fuels, such as LNG and blue hydrogen.
The Middle Arm Peninsula is already home to the Santos Darwin LNG and the INPEX Ichthys LNG processing facilities. We have recently announced our own NTLNG project on a 170-hectare Middle Arm site, targeting Net Zero Scope 1 and 2 emissions for an initial production of 6.6 MTPA of LNG.
LNG export and NTLNG represent the third stage of our strategic development plan. Tamboran’s first priority is ensuring the local NT market is well-supplied with the gas it needs, second is delivering energy security to Australia through addressing East Coast forecast gas shortages, and following that, then providing LNG to our regional neighbours who need our gas, including Japan and South Korea.
Reliable gas supply from the Beetaloo used at NTLNG means Australia can remain a reliable trading partner, assist in global emissions reductions and have access to reliable energy supply or chemical feedstock to major industry investments, such as Middle Arm.
Under the Commonwealth’s new Safeguard Mechanism and our own long-term plan, natural gas production in the Beetaloo Basin is required to have Net Zero Scope 1 greenhouse gas emissions and is expected to be the lowest Scope 1 greenhouse gas intensity natural gas sourced anywhere the world.
I have previously said in front of this Committee that the Beetaloo is the greatest current emissions reduction initiative in the country. I believe Middle Arm can play the same crucial role for carbon reductions and energy security across the wider Asia-Pacific – with Australia leading the way.
The fact is heavy industries in other parts of Australia and the world continue to struggle with reducing their dependence on coal-fired power. Indeed, as Australia transitions to a net zero economy, Middle Arm offers a sustainable model for other industrial precincts to emulate.
Tamboran wants to be clear we stand unequivocally for jobs. The Precinct will deliver many thousands of new high-quality jobs for decades to come.
It’s mainly Territorians who receive the direct benefits of these employment opportunities, its Territorians who receive the economic dividend from investment, and its Territorians who enjoy the environmental benefit of major industries arriving.
Middle Arm is a central pillar to the Territory’s long-term and bipartisan economic development strategy, first conceived by the NT Government as a major future industry area way back in 1984.
We are proud of the contribution Tamboran will make to Middle Arm and to the Northern Territory – powering new lower emissions industries, creating permanent local jobs, and supporting the Territory’s long-term economic development.
We would now welcome any questions that you have in relation to any of these topics that I’ve raised. Thank you, again, very much for your interest in what we believe is a very exciting project.