MEO Australia has gained environmental approvals for its proposed Tassie Shoal projects offshore Northern Australia, extending the period for the liquefied natural gas (LNG) project to 2052.
Tassie Shoal comprises one LNG plant (TSLNG) and two methanol plants strategically located on a shallow water shoal within the northwest Australian hydrocarbon precinct.
It is approximately 275km from Darwin, and surrounded by significant discovered but undeveloped high CO2 gas fields, currently held under retention leases.
MEO said TSLNG has a design capacity of 3 MTPA and provides significant cost savings relative to other LNG development options.
The updated environmental approvals clarify the potential for TSLNG to accept all gas qualities and compete on an even footing with other development options.
Under full development, the two methanol plants would use 440 Mscf/d, or 4 Tcf of raw gas over 25 years. The plants can accept raw gas with a CO2 content of up to 30%.
Methanol is a globally traded product with growing global demand in downstream chemical industries and also as a gasoline additive.
These updated environmental approvals for the LNG project now align both the requirements for feedstock gas and the approval period to 2052, said MEO CEO Peter Stickland.
He said the Tassie Shoal projects represent a high potential, low cost and long-term opportunity for MEO shareholders.
“The industry is starting to recognize the need to take steps to collaborate to secure lowest cost and efficient resource development in Australia," he said.
“The unique concept of the Tassie Shoal Projects represents an opportunity for industry to collaborate with MEO to commercialize the significant, undeveloped discovered resources in the region for the benefit of all stakeholders.”
Image: Map of Tassie Shoal projects / MEO
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