Elixir Energy (ASX: $EXR) progresses Grandis Gas Project in Taroom Trough

Elixir Energy Limited (ASX: $EXR) is making significant progress with its Grandis Gas Project in the Taroom Trough, as the company aims to tap into the growing LNG demand. The project, located in the Southern Bowen Basin, is strategically positioned to address the increasing need for energy security and the key role of gas in the medium term.

Executive Commentary on Energy Transition and LNG Demand

The reality of the energy transition is that it is very hard and long dated - gas demand will grow not fall. Since Kyoto in 2027, there has been no absolute worldwide decarbonization. In fact the very opposite is the case. In 2022, the world consumed nearly 55% more energy locked in fossil carbon than it did in 1997. Responsible analyses must acknowledge existing energy, material, engineering, managerial, economic and political realities. The global LNG market is expected to continue growing into the 2040s, with rising demand for LNG keeping pace with new supply. Renewables, supported by gas, are eroding coal's role in Asia, and there is an increasing focus on security of supply.

Summary of Grandis Gas Project and Outlook

Elixir Energy's Grandis Gas Project in the Taroom Trough is strategically positioned to address the growing LNG demand, with a focus on energy security and the key role of gas in the medium term. The project aims to tap into the multi-decade growth of LNG markets, with an increasing focus on security of supply. The Taroom Trough is currently hosting a multiple operator appraisal program, and Elixir's current program aims to further de-risk the play within only a few months. With very material contingent and prospective resources, the project is well-positioned to contribute to the global LNG market and meet the increasing demand for gas.