The Australian Petroleum Production & Exploration Association (APPEA) has stated that developing the Northern Territory’s substantial gas resources in the Beetaloo Basin could create up to 6300 new long-term jobs.
APPEA NT Territory Director Cassy Schmidt said the Beetaloo is only in the exploration phase but if it is found to be economically viable will mean thousands of jobs for the Territory and will help lower emissions around the world.
“A Deloitte study says the Beetaloo could potentially provide 6,300 full time jobs, a $1 billion increase in revenues projected to the NT Government over the period 2020-2040 and $22.4 billion in economic growth in the Territory (measured by Gross Territory Product) between 2020 and 2040,” Schmidt said.
“According to Geoscience Australia, the ‘best estimate’ of prospective shale gas resources in the NT is approximately 275,211 Petajoules – or 259.7 Trillion cubic feet – equivalent to almost 300 years of Australian domestic gas demand.”
Schmidt said the economic benefits of developing the Beetaloo will flow to Darwin, Katherine and regional communities as well as a future self-generating revenue stream by way of royalty payments to the Northern Territory government.
“The gas industry has a demonstrated track record of safe, sustainable operations throughout Australia, which is supported by the many robust regulatory frameworks industry complies with across states and territories,” she said.
The Beetaloo Sub-basin has the potential to be a world-class gas province. Development of the Beetaloo will increase gas supply, create jobs and drive significant economic growth in the Northern Territory and Australia.
The gas produced from large-scale Beetaloo development could supply a variety of gas markets.
Unlocking the Beetaloo: The Beetaloo Strategic Basin Plan sets out how the Australian Government can accelerate exploration and development of the Beetaloo by:
- Building a clear picture of the resource.
- Establishing efficient and effective regulation.
- Enabling infrastructure.
- Sharing regional benefits.
The government is committed to ensuring that Beetaloo development is safe and sustainable. This includes ensuring that development benefits local communities, Territorians, and the broader Australian population.
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