‘Never been a conflict’: Natasha Fyles scraps Woodside Energy shares

Natasha Fyles maintains there was never a conflict of interest in her holding Woodside Energy shares, as the Shadow Mining Minister’s investment in mining is revealed.

Chief Minister Natasha Fyles is divesting her 169 shares in Woodside Energy. Picture: (A)manda Parkinson

Chief Minister Natasha Fyles has bowed to pressure to divest her shares in a major fossil-fuel company, a day after defending the holdings as posing “no conflict” in the face of her government’s pro-gas agenda.

In a statement on Thursday Ms Fyles said she was divesting her 169 Woodside Energy shares to end the “distraction”.

“While there has never been a conflict, I will not let this be a distraction from the real issues facing the Territory, or let it be used by the Territory’s opponents to try and stop us from building the Territory’s future,” she said.

Ms Fyles said the shares, valued at about $5500, originated from a gift from her grandmother in 1985 and had always been properly declared on the public register.

“I have always declared share holdings while a member of parliament, in accordance with the legislation,” she said.

“I have never had any dealings with Woodside as Chief Minister. The government has not had to make any decisions relating to Woodside or its interests.”

Ms Fyles’ predecessor Michael Gunner last year jointly awarded Woodside a scoping permit for a Carbon Capture, Utilisation and Storage Hub at the proposed Middle Arm Sustainable Development Precinct – a venture the government spruiks as having “the potential to become one of the largest CCUS projects in the world”. 

Shadow Mining and Industry Minister Steve Edgington holds shares in Santos, Origin and Arafura Rare Earths Limited. Picture: Pema Tamang Pakhrin

Opposition member Marie-Clare Boothby would not be drawn on whether she believed there was a conflict of interest in Ms Fyles’ owning Woodside shares, as it was revealed her colleague Shadow Mining and Industry Minister Steve Edgington owns a stake in Santos, Origin and Arafura Rare Earths Limited.

“It really does call into question her decision making, she had to make a judgment call,” Ms Boothby said.

“Territorians are relying on her as the leader of the Northern Territory to make decisions in the best interest and Territorians … it points to that lack of judgment and that lack of being able to be open and transparent about a potential issue and to ensure that it doesn’t become an issue,” Ms Boothby said.

The Brennan MLA said the CLP “could potentially have a conversation” about making it a policy to divest from companies that conflict with ministerial portfolios, if they won the next election.

“As a team, we regularly look at our conflicts of interest, we update the register, we talk about potential conflicts, so we know that if we have to become decision makers then we will be sure to meet that open transparency that’s expected from any minister in the government,” Ms Boothby said.

“Our shadow minister (Steve Edgington) doesn’t make any final decisions, he’s not the one putting forward any decisions about the government and how they operate.”

Mr Edgington said he would divest shares that “may present a potential conflict of interest” and would “adhere to the ministerial code of conduct” if the CLP was elected.

“I would detail how any potential conflicts of interest would be managed should they arise,” he said.