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Environmental Approval Extended for Tassie Shoal LNG Project

Tassie Shoal LNG project environmental approval updated

Key Points:
•    Tassie Shoal LNG project environmental approval updated & extended for at least 5 years
•    Environmental approval terms consistent with recently sanctioned projects

MELBOURNE, AUSTRALIA (29th March, 2012)

MEO Australia Limited (ASX: MEO; OTC: MEOAY) is pleased to advise that the Federal
Government has updated the Timor Sea LNG Project environmental approval. Concurrent with this revision the Department confirmed that the approval will remain valid until at least 28th March 2017.

The Federal Department of Sustainability, Environment, Water, Population and  communities reviewed the status of the environmental approval under the Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act) and requested a revision to the terms of the approval to bring it into line with recent approval decisions.

Several of the revisions are now standard features of current approvals and are primarily borne out of the Montara Incident and subsequent Inquiry. Other revisions reflect contemporary practice and provide greater guidance on the requirements for the construction, operations and oil spill plans which will form the basis of subsequent approvals required before project commencement.

MEO’s CEO and MD Jürgen Hendrich commented on the announcement:

“We are very pleased that the Government has revised the terms of the Tassie Shoal LNG project environmental approval and has given a clear, minimum five year extension. This initiative supports our efforts to commercialise this Project together with the Tassie Shoal Methanol Project and provides the clarity needed by prospective project partners to evaluate the projects.”

Click on the above pdf for the full release.

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