Economic benefits of Northern Territory shale gas

A report commissioned by the Australian Petroleum Production & Exploration Association (APPEA) and produced by Deloitte Access Economics (DAE) has highlighted the economic benefits of Northern Territory, Australia, shale gas.

The report analysed two potential growth scenarios, based on the shale and tight natural gas supply to the Northern Territory, East coast, and export markets between 2020 and 2040.

Under the highest growth scenario, DEA stated that the cumulative increase in Gross State Product could reach AUS$22.4 billion in NPV terms, and a cumulative increase in NT government revenues of AUS$961 million NPV.

APPEA Chief Executive, Malcolm Roberts, confirmed that shale gas had the potential to generate significant long-term benefits for the NT, and said: “While still in its very early stages, shale gas could underpin a new wave of investment delivering jobs and economic opportunities for decades to come. Shale gas could become the industry that reinvigorates regional centers such as Alice Springs and Katherine and provides new training and employment opportunities in Indigenous communities. It could also become a game-changer for future NT governments by delivering a new source of revenue to fund better services and develop infrastructure across the Territory.”

Edited from press release by Angharad Lock

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/27082015/economic-benefits-of-northern-territory-shale-gas-1208/