ASX-listed junior MEO Australia Limited has received updated environmental approvals for its Tassie Shoal Projects of the Northern Territory coast.
The updated environmental for TSLNG to accept all gas qualities and compete on an even footing with other development options, while also extending the approvals period for the Tassie Shoal LNG Project to 2052.
The proposed Tassie Shoal Projects are made up of one LNG plant (TSLNG) and two methanol plants (TSMP1 & TSMP2), located on a shallow water shoal approximately 275 km from Darwin, and surrounded by significant discovered but undeveloped high CO2 gas fields, currently held under retention leases.
TSLNG has a design capacity of three Mtpa and according to MEO provides significant cost savings relative to other LNG development options.
Under full development the two methanol plants would use 440 Mscf/d, or four trillion cubic feet (TCF) of raw gas over 25 years.
“These updated environmental approvals for the LNG Project now align both the requirements for feedstock gas and the approval period to 2052,” MEO managing director and CEO Peter Strickland said.
“The Tassie Shoal Projects represent a high potential, low cost and long-term opportunity for MEO shareholders.
“The industry is starting to recognise the need to take steps to collaborate to secure lowest cost and efficient resource development in Australia.
“The unique concept of the Tassie Shoal Projects represents an opportunity for industry to collaborate with MEO to commercialise the significant, undeveloped discovered resources in the region for the benefit of all stakeholders.”