Gas industry to power the Territory’s economic and jobs growth

The gas industry has released a strategic plan to continue powering the Northern Territory’s economy and delivering reliable and affordable energy for Territorians.

Powering the Territory: A plan to unlock the energy and economic potential of the NT highlights the Territory has an opportunity to show the rest of Australia what can be achieved when the gas industry, government and the community work together to realise a modern industrial vision.

The plan includes five policy actions for the next NT Government to realise the potential of the Territory’s gas industry and drive economic and employment growth:

• Deliver energy security for the NT
• Unlock the economic and employment opportunities of gas
• Streamline approval processes to bring on new gas supply sooner
• Incentivise and support low emission technologies
• Support a strong LNG export industry

Natural gas is essential to the Territory’s energy security and economy, providing 86 per cent of power generation, $5.8 billion in annual economic activity and supporting more than 6000 local jobs.  

Australian Energy Producers NT Director David Slama said the strategic plan provides a roadmap to unlock the potential of the NT gas industry.

“At the centre of the plan, we make clear that industry needs streamlined approval processes to bring on new gas supply sooner and deliver energy security for the Territory,” he said.

“We highlight the need for regulatory certainty to deliver new gas supply, support a strong LNG export industry, and grow investment in low emission technologies.

“In addition to the Territory’s LNG export sector being a major economic driver, growing the onshore gas industry is key to the Territory becoming financially independent.”

As the NT works towards a $40 billion economy by 2030, the plan will support strong GDP growth.

“Gas is central to the Territory’s cleaner energy future, providing energy security through power generation for households, businesses and industry, supporting renewable deployment and critical mineral processing,” Mr Slama said.

“With strong bipartisan support for the NT’s critical gas industry, this election is an opportunity to realise the potential of the Territory’s gas industry and drive economic and employment growth.”