Beetaloo Energy reaches final investment decision
A long-awaited Northern Territory major project has achieved final investment decision, paving the way for a game-changing new gas era for Australia. Read which one.
The board of Beetaloo Energy Australia has announced final investment decision for the Carpentaria Pilot Project.
An ASX post on Thursday morning confirmed the Australian energy start-up would develop its Carpentaria gas reserve with a view to delivering gas to power the Northern Territory by next year.
The announcement follows agreement with the Northern Land Council on behalf of the Mabaliya Rrumurriya Wuyaliya Aboriginal Land Trust covering exploration permit 187 to allow for the sale of appraisal gas.
All environmental approvals for the project have been received with work on a gas production facility, to be called the Carpentaria Gas Plant, to begin next year.
Beetaloo Energy Australia’s managing director Alex Underwood explained the timing of the board’s decision.
“This is a landmark moment for Beetaloo Energy, allowing the company to commence gas sales from EP187 in 2026,” Mr Underwood said.
“We have already commenced the civil construction and upgrade works on the CGP internal capital resources. That work is continuing.
“We have separately commenced the process to drawdown the Macquarie Midstream Infrastructure Facility which was announced in November 2024 and we intend to draw funds under the facility when required.
“This FID follows the incredible efforts of the Beetaloo Energy team whose tireless work is bringing this project to life.
“We deeply appreciate the support of our shareholders, financiers, the NT Government, the traditional owners of the land on which we operate and our many supporters across the Northern Territory.
“They all understand the crucial importance of the Beetaloo Basin to drive energy security and economic prosperity for the NT, Australia and the broader region for decades to come.”
David Slama, Australian Energy Producers NT director, who has worked behind the scenes for four years to ensure Beetaloo development went ahead, was delighted at the signing.
“The Beetaloo Energy announcement is a major milestone in unlocking the Beetaloo Basin’s economic potential while boosting energy security for the NT and east coast market,” Mr Slama said.
“This builds on the growing momentum for development in the Basin - one of Australia’s most important emerging energy opportunities with potential to deliver significant economic benefits for the Territory, including supporting jobs, communities, and driving regional investment.
“With rising gas demand, bringing Beetaloo gas online will help to secure reliable and affordable energy for Territorians.”
Mining and Energy Minister Gerard Maley, who on Tuesday signed off the final NTG approval for BEA, welcomed “a major milestone”.
“This is a major milestone that represents an important step in creating new jobs for Territorians, supporting regional economic and strengthening the Northern Territory’s energy security,” he said.
“Today’s announcement reflects the strong collaboration between Beetaloo Energy Australia the NT Government and traditional owners, working together to deliver economic opportunities for the Territory.”
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