Jade Gas Files PDO, Secures Licence Area for TTCBM

Executive director Joe Burke called the PDO submission “another major step in transitioning TTCBM from exploration and appraisal towards long-term commercial development”. He said the milestones provide “a clear regulatory pathway towards securing long-term tenure, advancing field development, and ultimately moving the broader TTCBM Project into commercial production and monetising its significant gas resources”.

Jade and the regulator agreed on the proposed licence area, leaving formal granting as the next tenure step. The footprint retains coverage across Vista and Brownhill, which Jade identified as gas-bearing and prospective for further resource development, giving longer-term potential beyond Red Lake.

Once granted, the Production Licence would give Jade the tenure and production rights required to commercialise gas from the TTCBM project. The project is operated through Methane Gas Resource LLC, a joint venture company with the Mongolian government.

Jade’s longer-term strategy is to supply gas to Mongolia’s power and heavy vehicle transport sectors, initially in the South Gobi, through compressed natural gas or liquefied natural gas projects. The ASX aims to become Mongolia’s first gas developer.