The Northern Territory Government has reinforced the critical role of gas in powering the Territory’s economy and delivering long-term energy security in its 2025–26 Budget.
The key investments in the Budget include:
- $2 million to the Petroleum Operations Unit to streamline approvals and maintain high regulatory standards for the onshore gas industry, supporting energy security and investment in the Beetaloo Basin
- $2 million per year (ongoing) for the Beetaloo Regional Monitoring Program to track and manage environmental impacts of gas development, ensuring robust scientific oversight
Bill Yan, Northern Territory Treasurer, said, “We stand firmly behind our onshore gas industry and the Beetaloo Sub-basin. Developing this resource will secure energy for the Territory and the nation, rebuild our economy and create thousands of well paid jobs.”
David Slama, Australian Energy Producers (AEP) NT Director, said it was pleasing to see the Budget’s focus on “unlocking gas to deliver energy security” by supporting projects that “will fuel growth, create jobs and provide competitively priced gas for the Territory’s electricity generation for years to come”.
“The Budget confirms that natural gas is driving the Territory’s economy, which is forecast to grow by 7.8 per cent in 2025–26 and 5.9 per cent the following year as LNG exports from Santos’ Barossa project commence later this year,” he said.
“More than any other state or territory in Australia, the Northern Territory runs on natural gas. Natural gas generates more than 83 per cent of the Territory’s electricity and underpins billions of dollars in annual economic activity, while supporting thousands of local jobs.”
AEP said the Budget also highlights the importance of progressing the enormous opportunity of developing the Beetaloo Basin and the Middle Arm Sustainable Development Precinct, while also emphasising the Barossa project’s economic significance to the Territory.
“We commend the Northern Territory Government for supporting new gas supply and infrastructure, including the development of the Beetaloo Basin which is critical to the Northern Territory’s long-term energy security and economic growth.
“The oil and gas industry also welcomes additional funding for the Territory Coordinator to streamline regulatory approvals for projects of economic significance, which will help fast-track new gas supply and investment for the Territory’s long-term energy security and economic prosperity,” Mr Slama said.
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