Tamboran Resources, DWE enter pact with APA to deliver Sturt Plateau Pipeline

Tamboran Resources (TBN) and Daly Waters Energy, or DWE, have entered into binding agreements with APA Group whereby APA will build, own and operate the 12-inch diameter Sturt Plateau Pipeline, or SPP, for the proposed Shenandoah South Pilot Project. The 23-mile SPP will connect the proposed Sturt Plateau Compression Facility, or SPCF, to the existing APA-owned Amadeus Gas Pipeline, or AGP, the delivery point for gas volumes under the Gas Sales Agreement, or GSA, with the Northern Territory Government. Tamboran and DWE have contracted all foundation capacity on the SPP from the commencement of operations until at least 2041, which reflects the term of the GSA and have competitive access and pricing rights to contract capacity following completion of the initial term. APA has materially progressed the SPP project, with detailed design and approval applications well progressed. APA expects to place orders for the long-lead packages before the end of 2024. Construction of the pipeline is expected to occur in 2H 2025, with the SPP available to accept gas from the SS Pilot Project in 1H 2026.