Australian liquefied natural gas producer Origin Energy has agreed to sell its interest in the high-potential shale gas play of the Beetaloo sub-basin as part of a process of exiting the upstream exploration business.

The move is part of a strategic shift to grow cleaner energy and customer solutions, and deliver reliable energy through the transition, Origin said on Monday.

Agreements have been signed with a company owned by Australia's Tamboran Resources and its substantial shareholder, Bryan Sheffield, to divest Origin’s interest in the Beetaloo for an upfront consideration of A$60 million (US$40 million) and a royalty on future production over the life of field across the Origin interest being acquired.