The Territory Government is acting now for Territorians. We're planning like never before to harness our competitive advantages and championing exciting new industries like manufacturing and renewable energy, to realise our significant economic growth opportunities that will make a real impact in the lives of all Territorians for generations to come.
The Territory has never been more important to Australia and our region’s economic and strategic future, and we know this is our time. Our role in shaping thinking, leading sustainable development and driving collaboration to maximise value for Territorians is critical.
We are actively pursuing this exciting new economic era to maximise benefits for all Territorians, while embracing and safeguarding our unique environmental, cultural and community values.
The Territory and our world-class gas resources, present an attractive landscape for investment and new local business opportunities that will end the boom or bust cycles of the past.
People can feel and see that things are changing. Business wants to invest here, make things here and create jobs here. People want to move here. So we’re focusing on our key growth sectors, harnessing our opportunities and transforming to a new economic era.
Our highly prospective onshore gas resources and proven offshore gas reserves will contribute substantial value to the Territory economy, opening up new doors to new low emissions industries and more jobs for Territorians, while also supporting our important low emissions energy transitions.
Expanding beyond our LNG export expertise with new gas-based manufacturing industries will modernise Territory industry, develop and attract a highly skilled workforce, and deliver new research, services and high value jobs, now and into the future.
Capturing the full extent of the gas value chain by creating a Territory gas-based manufacturing sector is estimated to deliver seven times the value of LNG export alone to the Territory's economy, which currently generates more than 20 per cent of our gross state product.
The 2019 Acil Allen report commissioned by Chemistry Australia found that:
- Gas-based manufacturing generates $44.6 million/petajoule of gas when used as feedstock compared to $6 million/petajoule for LNG exports.
- the added value created for every petajoule of gas used in the chemistry industry is 33 times greater than in LNG, and 68 times greater than in gas-fired electricity generation
- the number of jobs per petajoule of gas used for the gas-based manufacturing is estimated at 80 times higher than LNG, and 150 times more than gas-fired electricity generation.
Embracing and safeguarding our unique environmental, cultural, social and community values is paramount as we pursue sustainable gas-led growth and exciting long-term opportunities for all Territorians.
The Territory and our natural gas resources, have a powerful role to play in our pursuit of a net-zero emissions future, not just for Territorians, but right across the globe. Our world-class resources present:
- unprecedented opportunities for Australia to be a global low-carbon energy supplier, supporting increasing demands for cleaner, affordable transition energy sources
- development opportunities for new sustainable industries such as low-emissions gas-based manufacturing and carbon offset industries
- pathways to replace fossil-fuel sources over time, develop renewable energy solutions and decarbonisation innovations.
Global demand is increasing for low-carbon products created from low-emissions gas-based manufacturing, and with 126 countries committed to low-emission targets, we have a momentous opportunity to be leaders in global action for a net-zero emissions future.
Planning towards a local carbon offset industry is also a critical component to sustainable industry development that protects our environment. We’re working with CSIRO, industry and engineering companies to assess viability for a large-scale Low Emission Carbon Capture Utilisation and Storage (CCUS) Hub, which prevents carbon dioxide from reaching the atmosphere.
In 2018 the Territory Government determined that hydraulic fracturing of onshore unconventional shale gas reservoirs may proceed under very strict conditions and in tightly prescribed areas following release of the Independent Scientific Inquiry into Hydraulic Fracturing Final Report.
With consideration of the latest and best-available scientific data and continuing technological improvements, the Independent Inquiry concluded that hydraulic fracturing of onshore shale gas can be appropriately managed, presented 135 recommendations which were accepted by the Territory Government.
Protection of our natural environment is paramount. Implementation of the 135 recommendations to mitigate risk has seen the Territory Government work to:
- strengthen regulation
- ensure industry is accountable for its practices
- safeguard water and the environment
- respect community and culture
- maximise the benefits and opportunities available to local businesses and communities, and ensure planning for future.
The Territory has all the ingredients to be a low-carbon energy global leader, delivering on increasing demands for cleaner, affordable energy, carbon neutral products and processes, driving local opportunities and safeguarding what makes our Territory exceptional.
Stakeholder consultation and community feedback plays an important role in our gas-led growth journey.
As exciting new sectors including renewable energy, advanced gas-based manufacturing and carbon offset industries emerge, your contributions will be encouraged as we transform our future.
We're committed to pursuing sustainable economic development that embraces and safeguards our unique environmental, cultural, social and community values.