Beetaloo Energy Australia Limited (EEGUF) Signs Midstream Infrastructure MOU with AGIG
Beetaloo Energy Australia Limited (ASX:BTL) (OTCMKTS:EEGUF) announced it has entered into a non-binding Memorandum of Understanding (MOU) with Australian Gas Infrastructure Group (AGIG) to collaborate on the planning and development of gas transportation and associated infrastructure supporting the Company's proposed Beetaloo Digital vertically integrated gasto-power data centre development in the Northern Territory.
Highlights:
- Beetaloo Energy has signed a non-binding Memorandum of Understanding (MOU) with Australian Gas Infrastructure Group (AGIG) to conduct preliminary assessments on a gas pipeline from the Carpentaria Gas project to future demand centres in the Darwin area.
- The parties will jointly assess infrastructure requirements including gas transportation, processing and associated facilities required to support the transformative vertically integrated Beetaloo Digital development, ultimately targeting Final Investment Decision for the project.
- AGIG intend to lead the design and planning of an ~750 km gas pipeline and associated infrastructure to supply the proposed Beetaloo Digital project, with the pipeline intended to be located within the NT Government's proposed Territory Energy Link common user infrastructure corridor.
- The collaboration will include development of an integrated project plan.
- This MOU maintains the momentum following the NT Government's award of exclusivity over 185ha of strategic land in Waddell for the Beetaloo Digital Data Centre opportunity. It would bring together Beetaloo Energy's upstream gas resources and AGIG's extensive experience in developing, owning and operating gas transmission infrastructure.
- The MOU represents another important step in progressing the Beetaloo Digital opportunity following the recent collaboration agreement with Halliburton.
Alex Underwood, Managing Director Beetaloo Energy said:
"This MOU with AGIG represents another important milestone in progressing Beetaloo Digital. AGIG is one of Australia's leading energy infrastructure companies with extensive experience developing and operating gas transmission infrastructure. Their expertise complements our upstream gas development capabilities as we continue to advance the Beetaloo Digital opportunity.
Together we will assess the infrastructure required to connect our gas resources with the proposed development and continue progressing the integrated project towards future commercialisation."
Craig de Laine, Chief Executive Officer, Australian Gas Infrastructure Group said:
"We're pleased to be partnering to support the development of the Beetaloo Basin and the Northern Territory's vision for the region. It's clear there's an important role the Basin could play in the Territory's future, and our focus is on working with customers and partners to develop the infrastructure needed to support that opportunity.
AGIG brings significant experience in gas infrastructure, and we look forward to working with Beetaloo Energy and our partners to further explore the practical solutions that meet the needs of customers and support long-term growth."
AGIG is one of Australia's largest gas infrastructure businesses owning and operating of over 40,000km of high-pressure gas transmission and distribution pipelines servicing over 2.1 million customers, a gas storage facility and associated infrastructure with the capability to finance, build, own, operate and maintain major gas transmission pipelines and associated gas infrastructure.
The MOU is non-binding, other than customary provisions including confidentiality, announcements and other administrative provisions, and does not commit either party to proceed with any future transaction. Any future development activities remain subject to technical studies, commercial agreements, regulatory approvals and relevant board approvals.
ABOUT AGIG
Australian Gas Infrastructure Group (AGIG) owns and operates gas infrastructure, transporting and storing the energy our customers need, with high levels of reliability and cost efficiency that customers rely on. Our operations are extensive and diverse across every mainland state and the Northern Territory, we deliver gas to homes, businesses, industry and communities; as well as transporting and storing gas that underpins the economy for power generation, mining and manufacturing.
Media and Investor Enquiries Nick Kell E: info@beetalooenergy.com T: +61-2-9251-1846 WWW: www.beetalooenergy.com
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