Gas, as a low carbon energy source, has a critical role in the Territory's sustainable economic development pathway.
Untapped proven gas reserves offshore and highly-prospective shale gas resources onshore present an attractive landscape for private investment and new local business opportunities.
Territory gas-led growth opportunities
As a low carbon energy source, Territory gas presents exciting opportunities to:
- lead global gas supply, supporting increasing demands for cleaner, affordable transition fuel sources and dispatchable electricity
- establish a Territory gas-based processing and manufacturing sector
- support renewable energy solutions and decarbonisation innovations
- propel multi-billion dollar growth in our economy
- create jobs, develop highly skilled local workforces
- deliver cutting edge research and innovation opportunities
- support global pursuit of a net-zero emissions future.
The Territory is a global scale producer of liquefied natural gas (LNG) with planning for expansion opportunities underway.
Supplying over 10 per cent of Japan’s global LNG imports, accounting for more than 20 per cent of the Territory’s gross state product and supporting Australia’s 2020 crown as the largest LNG global exporter.
With land secured for five additional LNG trains, proven offshore reserves and promising onshore exploration, suggest this could be just the start of our global role.
Onshore, exploration of the vast Beetaloo Sub-basin, indicates a shale gas resource of at least 500 trillion cubic feet, (P50 gas-in-place resource as estimated by industry). Others have tipped larger gas reserves on a scale exceeding the North West Shelf or existing Marcellus shale gas fields in the United States.
Offshore, untapped proven reserves of 30 trillion cubic feet of gas also present new opportunities.
Sector development
As we drive gas-led growth, development of a local carbon offset industry and decarbonisation innovations are an essential ingredient to a sustainable approach.
In October 2021 The Territory Government formalised its partnership with CSIRO, industry and engineering companies to develop a business case assessing the viability of a large-scale Low Emission Carbon Capture Utilisation and Storage (CCUS) Hub to fast-track emissions reduction across Northern Australia's energy sector.
