The Beetaloo Sub-basin’s resource potential is a significant opportunity for the economic recovery of the Northern Territory (NT) and Australia.
Current industry analysis projects that Beetaloo development could produce 6,000 jobs by 2040. Economic activity could increase between $18.0 billion and $36.8 billion over the same period.
The Commonwealth, in partnership with the NT Government, will act to realise these opportunities. These actions deliver on the government’s gas-fired recovery strategy.
The opportunities of the Beetaloo also present serious challenges that could prevent it reaching its full potential.
These challenges include:
- overcoming the Beetaloo’s vast and remote nature in order to better understand its resources
- establishing the required supporting infrastructure from the ground up
- developing the Beetaloo’s gas in time to meet the expected window of maximum gas demand and potential declining production in southern states
- ensuring local communities and Traditional Owners can realise the benefits of development
To meet these challenges, the government has developed the Beetaloo Strategic Basin Plan (the plan). The plan encompasses more than $220 million in new funding to support Beetaloo development.
The plan draws on targeted economic, engineering and scientific studies commissioned by the Australian and NT Governments.
Through the plan we will create the conditions to grow the emerging onshore gas industry in the NT.
We will do this by:
- encouraging industry to speed up resource exploration and appraisal
- creating an efficient but rigorous regulatory environment
- investing in the critical infrastructure required for development
- collaborating with regional communities to ensure benefits from the Beetaloo’s development are widely shared
The government is already working together with local and Indigenous communities and gas operators. A collaborative approach will ensure we are best positioned to realise the vast benefits from Beetaloo development.