Media release: NT Budget reinforces critical role of gas in Territory’s economic growth

Today’s Northern Territory Budget confirms the critical role of natural gas in powering the Territory’s economy and delivering long-term energy security.

Australian Energy Producers NT Director David Slama said it was pleasing to see the Budget’s focus on “unlocking gas to deliver energy security” by supporting projects that “will fuel growth, create jobs and provide competitively priced gas for the Territory’s electricity generation for years to come”.

“The Budget confirms that natural gas is driving the Territory’s economy, which is forecast to grow by 7.8% in 2025-26 and 5.9% the following year as LNG exports from Santos’ Barossa project commence later this year,” Mr Slama said.

“More than any other state or territory in Australia, the Northern Territory runs on natural gas. Natural gas generates more than 83 per cent of the Territory’s electricity and underpins billions of dollars in annual economic activity, while supporting thousands of local jobs.”

The Budget also highlights the importance of progressing the enormous opportunity of developing the Beetaloo Basin and the Middle Arm Sustainable Development Precinct, while also emphasising the Barossa project’s economic significance to the Territory.

“We commend the NT Government for supporting new gas supply and infrastructure, including the development of the Beetaloo Basin which is critical to the Northern Territory’s long-term energy security and economic growth.

“The oil and gas industry also welcomes additional funding for the Territory Coordinator to streamline regulatory approvals for projects of economic significance, which will help fast-track new gas supply and investment for the Territory’s long-term energy security and economic prosperity,” Mr Slama said.

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