Chief Minister Natasha Fyles downplays conflict after admitting to personal stake in gas industry
‘I’ve done everything right’: Chief Minister Natasha Fyles reveals the size of her shareholding in Woodside Energy after months spent championing the Territory’s gas industry.
Northern Territory
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Chief Minister Natasha Fyles says there is “no conflict” after admitting to owning 169 shares in Woodside Energy as her government continues to pursue a strong pro-gas agenda.
Speaking at a press conference on Wednesday Ms Fyles said she hoped the shares, currently worth about $5500, “might grow for the kids”.
Ms Fyles said she was a child when “Granny bought me” BHP shares in 1985, making her a Woodside shareholder after the two companies merged last year.
“I have 169 shares so I don’t exactly have a huge nest egg to step away and retire with and I do thank my grandmother back in 1985 when I was seven, to think about my future and my children’s future,” she said.
“Anyone that’s left something they do hope that one day they’ll work out that it’s a rich nest egg.
“I think you can see from the fact it’s 169 shares, it was something that perhaps into the future that they might grow for the kids, but from my perspective, I’ve done everything (right) and there is no conflict.”
Ms Fyles first declared her shares in Woodside Energy in July last year, with the information later published deep within an almost 500-page statement of registrable interests tabled in the NT parliament in March.
Asked whether she would divest the shares, Ms Fyles said she would make sure her interests were registered and conflicts managed.
“Let’s see where those 169 shares go one day,” she said.
“These big companies around the world are also wishing to decarbonise, so I certainly think that in terms of this there is absolutely no conflict and I have managed everything with integrity.”
She hit out at ACT Senator David Pocock who called for a federal senate inquiry into the Middle Arm Sustainable Development Precinct to scrutinise Ms Fyles’ shareholding.
“What I’m doing is I’m focused on the future of Territory kids and jobs for Territory kids and that is why Middle Arm is such an important project,” she said.
“I’d like to ask questions around (David Pocock’s) family shareholdings in companies, what are they invested in?
“It’ll take a little more than that to deter me from working to deliver projects that are jobs into the future for Territorians.”
Mr Fyles denied Woodside had any involvement in the Middle Arm project, without explanation, despite the company featuring on a Territory government website spruiking its “gas strategy”.
Mr Pocock in parliament this week said the Fyles government’s decision to back fracking in the NT was “not in the interests of Australians”.
“This is the Labor Chief Minister who’s been pushing fracking in the NT and pushing for the development of something that is not in line with the NT being habitable,” he said.
Environment Centre NT executive director Kirsty Howey said the news was “deeply alarming” while calling for a “root and branch review”.
“It’s no wonder trust in government is at rock bottom,” she said.
“For years, Territorians have been worried about the influence of the fossil fuel industry on our politicians.
“How many Territory politicians have personal interests in gas companies that could influence decisions that should be made in the public interest?
“We need a root and branch review of the management of conflicts of interest on the part of our politicians.”
Researcher and head of the Australian Leadership Index Samuel Wilson said Ms Fyles’ divesting the shares “would send a signal community concerns are being heard”.
“But whether that would actually fix the problem of public trust is a different question,” Associate Professor Wilson said.
“If it’s seen that someone’s making light of something important, or something that’s important to you, it can make it seem like they’re not taking it seriously.”
Chief Minister Natasha Fyles deflects questions on personal stake in gas industry
Chief Minister Natasha Fyles has refused to say how much she personally stands to financially benefit from her government’s aggressively pro-gas policies after admitting to owning shares in one of the industry’s major players.
Ms Fyles first declared her shares in Woodside Energy in July last year after taking over the top job from former Chief Minister Michael Gunner in May.
The information was then published eight months later, buried deep within an almost 500-page statement of registrable interests tabled in the NT parliament in March.
In September last year, a website administered by the Department of Chief Minister and Cabinet spruiking the Territory government’s “gas strategy” published an article lauding a “joint venture between INPEX, Woodside Energy and Total Energies for the Bonaparte Basin”.
The project was hailed as “a significant step towards realising a large-scale (Carbon Capture, Utilisation and Storage) hub” at the government’s signature proposed Middle Arm Sustainable Development Precinct.
The revelation also follows a fiery speech to the National Press Club in August this year in which Ms Fyles took aim at anti-fossil fuel “Teals and trolls” while declaring “we love Middle Arm”.
“The Teals and the trolls can spread their nonsense about it all they want, but they should know it’s going to take a lot more than a couple of Tweets for us to back down,” Ms Fyles said.
Since then, Ms Fyles has repeatedly refused to say how many shares in the company she owns or how she manages the perceived conflict of interest, comparing it to “membership of my local sports club” or “owning my own home”.
Speaking on ABC radio on Tuesday, Ms Fyles repeatedly refused to answer questions about how she managed the perceived conflict.
“What I’m focused on is building a project that will create income and jobs for Territorians,” she said.
“In terms of my individual conflicts they are well-listed and have been on the parliamentary members register of interests since the moment I entered parliament and as I said, I ensure I update that regularly.”
In response to further specific questions from the NT News, Ms Fyles claimed the shares “have been declared since I was voted into parliament more than a decade ago”.
“All ministers declare their interests as set out in the members register of interest and processes within cabinet,” she said.
Ms Fyles’ office did not respond to a further question about why the Woodside shares were first declared last year or which shares she claimed had been declared earlier.
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Originally published as Chief Minister Natasha Fyles downplays conflict after admitting to personal stake in gas industry
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