The Gas Taskforce participated in last week’s APPEA Conference and Exhibition which is the largest gathering of the oil and gas industry stakeholders in the southern hemisphere.
Mr Ian Davies Chairman of APPEA’s Board of Directors reinforced in his opening address how vital it is that government, supply chains, research and production stakeholders are talking and working together to lead our energy transition.
‘Positive Energy for a Changing World’ was the theme designed to unpack some of the challenges and opportunities of economic recovery, the impact of the Russia-Ukraine conflict, 2050 net-zero emissions targets, energy security and decarbonisation.
The challenge to decarbonise whilst meeting the rising demand for reliable and affordable energy was a dominating theme, reinforcing the critical need to develop carbon capture utilisation and storage technology at scale.
“2050 net-zero targets compel us to come together to respond to and manage risk, transform the way we do business and make bold decisions in all that we do,” said Alister Trier, Chair Gas Taskforce.
Exploring the strategies, proven technologies and innovation underway to address our decarbonisation challenges reinforced industry’s genuine commitment to revolutionising how they do business.
Bringing new technologies to market and the dramatic innovative push required this decade was also reflected as an opportunity of great significance for Australia’s economic development.
Many of our global trading partners have looked to Australia for energy security over the past 50 years. Our trading partners are now seeking products such as fertiliser, building materials, and polymers produced through low-emissions manufacturing, highlighted as an exciting sustainable market of soaring demand.
Accelerating development of low-emission manufacturing precincts such as the Middle Arm Sustainable Development Precinct is forecast to create more than 16,000 new jobs and attract over $23 billion in capital investment into the Northern Territory by 2040.
The event was also considered a significant marker of sentiment, and the exceptional optimism displayed from industry and the Australian Government in the Northern Territory’s oil and gas sectors was outstanding.
Encouraging results from continued exploration and appraisals of the Beetaloo Sub-basin were the subject of great interest, with over 500Tcf of gas in place and production forecast to commence by 2025.
"Northern Territory gas reserves will be critical to ensuring Australia’s future energy security, creating new sustainable industries and more jobs, whilst enabling Australia and our global trading partners to decarbonise.
The way the nation sees the Territory has shifted - we are being noticed and for all the right reasons,” said Mr Trier.
Find out more about our sustainable gas-based growth pathways in the Territory.