He is the new chief executive of Tamboran Resources, the largest acreage holder in the Northern Territory’s Beetaloo sub-basin, which holds enough gas to keep the lights on in the Northern Territory and the East Coast, along with massive exports to Asia, for at least 50 and probably for more than 100 years.

The first gas expected to be produced in the third quarter this year.

“This is an incredibly exciting time,” says Mr. Abbott, an engineer who has more than 20 years experience in the exploration and production fields.

“I’ve got a once-in-a-lifetime job. I’m working as hard as I’ve ever done and having as much fun as I’ve ever had.

“Knowing that the Beetaloo can improve the lives of so many people around the globe is very satisfying.”

The first gas will be sent to Top End power stations along the Amadeus pipeline for the Territory Government’s Power and Water Corporation. 

TAMBORAN’S NEW CHIEF EXECUTIVE TODD ABBOTT … ‘KNOWING THAT BEETALOO CAN IMPROVE THE LIVES OF SO MANY PEOPLE AROUND THE GLOBE IS VERY SATISFYING’. PHOTO: NICOLE MANISON 

“This will be a big cost savings for the Government,” says Texas-born Mr Abbott. 

Medium-term plans are to send gas to the East Coast, which is facing a mounting energy crisis, through a new pipeline being progressed by APA Group, Australia’s largest pipeline company. 

All aspects of Beetaloo – from gas production to pipe-laying, from servicing to operation of the development– will lead to the creation of thousands of jobs, including apprenticeships for young Territorians. 

Indigenous Territorians will benefit through jobs, training and royalties. 

Economists say that Beetaloo could generate $17 billion in economic growth by 2040 and could ease – or even solve – the Territory Government’s debt crisis, which is costing more than $1 million a day in interest payments. 

A strong onshore NT gas industry will improve business opportunities, jobs, regional development, and, most importantly, drive down energy prices for the Territory and the East Coast. 

The Beetaloo is a vast basin straddling the Stuart Highway, although most of it lies east of the road. 

It stretches from near Mataranka, 100 kilometres south of Katherine, 300 kilometres south to Elliott, and holds more than 500 trillion cubic feet of shale gas. 

The basin is often compared with the Appalachian basin, which hosts the prolific Marcellus onshore gas field, which has helped transform the United States from the world’s biggest energy importer into a net exporter since 2019. 

Mr Abbott, who was chief operating officer for Seneca Resources, an operator in the Marcellus Shale, says: “Beetaloo and Marcellus are similar in many ways – but the Beetaloo is thicker.” 

The Middle East war has sharpened interest in the Beetaloo, particularly in the burgeoning economies of Asia. 

The full production from Darwin’s two LNG plants is shipped to Japan, but other countries may now look to Australia for energy supplies. 

“Everybody is being reminded that energy underpins everything in our economies,” says Mr Abbott. “The Beetaloo is critically important to the world’s energy industry. 

“We have a tremendous gas resource in Australia. It will provide royalties to the Government and native title holders, create jobs and increase corporate tax to the Australian Federal Government. 

“And Australia will be in control of how that is all done, including controlling emissions. 

“It’s hard to see a negative.” 

Mr Abbott attended a high-powered energy forum in Tokyo where Asian leaders spoke glowingly of Australia’s reliability as an LNG provider. 

They also emphasised that they wanted to diversify their supply chains rather than rely too heavily on the Middle East. 

Mr Abbott says the growing middle class in Asia, particularly in China and India, is increasing energy demand – and that’s good news for Australia. 

“We are perfectly situated,” he says. 

SHARED VISION

Tamboran Resources has a vision to support the net zero energy transition in Australia and Asia-Pacific by developing low CO2 unconventional gas resources in Beetaloo.

The public company will hold about 2.9 million net prospective acres in the sub-basin once its acquisition of Falcon Oil and Gas is completed.

Tamboran will at first pipe about 40 terajoules of gas per day to Top End power stations.

Longer-term proposals involve constructing a pipeline from Beetaloo to Middle Arm for LNG export.

A corridor known as the Territory Energy Link is being developed to connect the basin to Darwin – it is designed to carry gas, electricity, and other resources. TQ

TALKING BUSINESS … TODD ABBOTT (CENTRE) WITH IAN BECK (LEFT) AND NATHAN GESLE