Market Chatter: Tamboran's Shares Up 1% After Northern Territory Project Investor Says Australia Stands to Benefit from Gas Supply Diversification Push
Tamboran Resources' (ASX:TBN) shares rose 1% in recent trading on Tuesday after Bryan Sheffield, Formentera Partners' managing partner, an investor in the Beetalo project in the Northern Territory, said Australia's economy stands to benefit as buyers will seek to diversify their gas supplies in the wake of the Middle East conflict, the Australian Financial Review (AFR) reported.A liquefied gas facility in Qatar, which was damaged in the conflict, might probably need three to four years to be fully repaired, Sheffield, a US-based billionaire and oil and gas investor, noted.He said he would try to work out the best way to lower costs for the Northern Territory project. Tamboran signed a farm-in agreement with Formentera Partners, the owner of Daly Waters Energy, for the development of the project.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
