The Northern Territory Budget underscores the vital role of natural gas in supporting the Territory’s economic growth and ensuring long-term energy security.

David Slama, Director of Australian Energy Producers NT, expressed satisfaction with the Budget’s emphasis on “unlocking gas to deliver energy security”.

He noted that the government’s support for gas projects will drive growth, create jobs, and provide competitively priced gas for electricity generation in the Territory for years to come.

“The Budget confirms that natural gas is a cornerstone of the Territory’s economy, which is projected to grow by 7.8 per cent in 2025-26 and 5.9 per cent in the following year, particularly as LNG exports from Santos’ Barossa project kick off later this year,” Mr Slama stated.

He highlighted that the Northern Territory relies more heavily on natural gas than any other Australian state or territory.

Natural gas accounts for over 83 per cent of the Territory’s electricity generation and supports billions of dollars in annual economic activity while providing thousands of local jobs.

The Budget further emphasises the potential of developing the Beetaloo Basin and the Middle Arm Sustainable Development Precinct, as well as the economic significance of the Barossa project.

“We commend the NT Government for backing new gas supply and infrastructure initiatives, particularly the development of the Beetaloo Basin, which is crucial for the Northern Territory’s long-term energy security and economic growth,” Mr Slama added.

Additionally, the oil and gas industry welcomes the allocation of funds to the Territory Coordinator to streamline regulatory approvals for economically significant projects, which will help expedite new gas supply and investment in the Territory.

“This support is essential for ensuring the long-term energy security and economic prosperity of the Northern Territory,” Mr Slama concluded.