Strategic venture to enhance Australia’s natural gas
Output
SYDNEY — Formentera Partners and INPEX have announced a strategic partnership aimed at accelerating the development of the Beetaloo Basin’s shale resources in Australia’s Northern Territory. This collaboration combines Formentera’s shale expertise with INPEX’s LNG capabilities to better harness one of the world’s promising new shale gas opportunities, the companies confirmed this week.
The agreement involves INPEX acquiring 68,000 net acres within a core block of Formentera’s 1.9 million-acre position in the basin. The phased acquisition could eventually expand to 75,000 additional acres, with the total consideration ranging between $208 million and $411 million, Formentera stated.
Collaboration and Future Plans
Formentera’s Daly Waters Energy will manage the joint venture, applying advanced U.S. Shale technologies to overcome previous challenges in the Beetaloo Basin. According to Bryan Sheffield, Managing Partner of Formentera, this joint venture marks a turning point for the basin, enabling real, scalable natural gas production for both domestic use and future export.
INPEX’s Managing Director, Tetsu Murayama, emphasised the project’s potential to develop low-carbon natural gas, benefiting both local markets and international partners like Japan and Taiwan. The partnership also plans to expand LNG export capabilities, including adding a third LNG train at the Icthys LNG facility in Darwin.
This announcement comes amid increasing global demand for sustainable energy solutions, as companies look to leverage technological advancements and collaborative ventures to meet these needs. The Beetaloo project is set to not only bolster energy security for Australia but also establish a reliable supply source for international markets. The partners are committed to ensuring environmental sustainability by implementing innovative technologies and practices that minimise the ecological footprint of their operations, thereby setting a standard for responsible energy development worldwide.
Last updated: 29 June 2026, 12:38 pm
