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.
Read more on The Territory website.
Jobs and the economy
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.