Today’s Northern Territory Budget advances Beetaloo Basin development and net zero projects for a clean energy future, according to the Australian Petroleum Production & Exploration Association (APPEA).
APPEA NT Director Slama stated that the Budget secured the State’s onshore natural gas resources’ economic and energy security while ensuring a more sustainable energy future.
“The Budget invests in critical infrastructure, supports economic growth and enables the energy transformation to net zero by providing a positive investment environment for business. It provides significant funding for important infrastructure such as new roads for industries like the gas sector to continue to deliver for Territorians, enabling job creation and investment,” Slama said.
According to Slama, the oil and gas sector supports extra financing for the Resourcing the Territory exploration program, which invests in the NT and promotes a new energy supply with all its advantages.
“New funding for accelerated development of a low-carbon hydrogen industry is also welcome as a key pillar of a cleaner energy future,” he added.
Slama said the gas sector was essential to the NT’s energy revolution, providing energy and benefits from the Beetaloo and supporting the Middle Arm Sustainable Development Precinct with emissions reduction technology and low-carbon fuels.
“The oil and gas industry is focused on the Beetaloo Basin and Middle Arm so the benefits can be shared with the communities and residents of the NT. After this month’s Beetaloo Basin approval, gas companies are seeking regulatory certainty so they can proceed to production and deliver a new wave of economic prosperity that can help secure improved services and infrastructure,” he stated.
He noted that gas already powers the NT economy, employing 11,000 employees and generating $19 billion a year.
“The oil and gas industry is focused on the Beetaloo Basin and Middle Arm so the benefits can be shared with the communities and residents of the NT. After this month’s Beetaloo Basin approval, gas companies are seeking regulatory certainty so they can proceed to production and deliver a new wave of economic prosperity that can help secure improved services and infrastructure,” he added.
