The Northern Territory’s (NT) Middle Arm Sustainable Development Precinct has demonstrated the flow-on effect of economic benefits for a net zero economy, according to Australia’s oil and gas industry.
The emissions reduction hub near Darwin, NT, would accelerate emissions reduction by creating net zero industries, Australian Energy Producers (AEP) told a Senate Inquiry.
It also highlighted the opportunity for renewables, gas, hydrogen and carbon capture and storage (CCS) technologies to support net-zero manufacturing through the precinct.
AEP chief executive officer Samantha McCulloch said the precinct will assist in Australia’s transition to net zero emissions.
“Net zero is not just a challenge to lower emissions – it’s an opportunity to grow our economy, boost our productivity, and share the benefits across our communities,” she said.
“The gas industry can provide affordable and reliable energy as well as enabling carbon capture technologies and low-carbon hydrogen.
“And we will deliver economic benefits including thousands of jobs and billions of dollars of value to Australia’s economy.”
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