NT’s Beetaloo Basin to benefit from federal government’s $58.6m investment in Australian gas industry

The importance of the Northern Territory’s gas rich Beetaloo Basin will be further emphasised in the federal budget with $58.6m of measures to further drive Australia’s gas-fired economic recovery.

• Federal Budget to include investment in Beetaloo Basin to Port of Darwin ‘growth corridor’
• Morrison Govt plan to speed up Beetaloo development

THE importance of the Northern Territory’s gas rich Beetaloo Basin will be further emphasised in the federal budget with $58.6m of measures to further drive Australia’s gas-fired economic recovery.

Just yesterday, the federal government announced a $190m “refresh” of its Northern Australia development blueprint that includes a new multimillion-dollar investment package focusing on “corridors of growth”– like the Beetaloo Basin to the Port of Darwin.

This new package puts the emphasis on the supply chain that will boost the east coast gas market.

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The federal government is allocating $38.7m for targeted support of critical gas infrastructure projects to alleviate Australia’s forecast gas supply shortfall.

The remainder of the $58.6m includes:

• $3.5 million to design and implement the Future Gas Infrastructure Investment
• Framework for Commonwealth consideration of medium to long-term critical gas
• projects identified by future National Gas Infrastructure Plans (NGIP) if the private

  sector does not step-up

• $4.6 million to develop initiatives that empower gas reliant businesses to

  negotiate competitive outcomes, which includes developing a voluntary

  standardised contract framework with industry

• $6.2 million to design, consult and implement reforms to continue accelerating the development of Wallumbilla as Australia’s Gas Supply Hub
• $5.6 million to develop a further NGIP for 2022.

Origin Energy’s Kyalla well drill site in the Beetaloo Basin. Picture: Supplied

Federal Energy Minister Angus Taylor said additional gas supply must be supplied to consumers at the right price, with infrastructure being key to delivery.

“Gas is a critical enabler of Australia’s economy and helps to support our manufacturing sector that employs over 900,000 Australians,” he said.

“Without action to address supply, industry and households will be faced with higher prices, disruptions in supply and unplanned outages.”