Developing the Northern Territory’s shale and tight gas resources could add as much as $1 billion per year to gross state product and $50 million annually to Territory coffers, averaged over the two decades from 2020, according to a report produced for the main gas industry lobby.
Major gas development could also create an additional 4,200 to 6,300 full-time-equivalent jobs by 2040, according to the Deloitte Access Economics report produced for the Australian Petroleum Production & Exploration Association.
Territory GSP is presently a little over $20 billion annually. There is no tight or shale gas production going on now; all present production comes from offshore.
APPEA Chief Executive Malcolm Roberts, who will unveil the report at the South East Asia Australia Offshore & Onshore Conference in Darwin today, said it confirmed that shale gas had the potential to generate significant long-term economic benefits for the NT.
“Shale gas could become the industry that reinvigorates regional centres such as Alice Springs and Katherine and provides new training and employment opportunities in indigenous communities,” he said.
The Territory government has paid to support hopes of developing a gas pipeline to connect the Territory to the east coast. The Australian understands contributing millions of dollars worth of gas from public contracts to encourage the project has also been discussed.
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