The two developers at the centre of the Beetaloo Basin say the project will proceed despite Labor’s safeguard mechanism concessions, describing claims from the Greens that work would stop as “100 per cent wrong”.
Empire chief executive Alex Underwood said the deal struck on Monday had brought “additional clarity” to regulatory requirements for developing Beetaloo gas. There was a “great opportunity” to develop the Northern Territory’s onshore gas resources to enhance energy security, he added.“With less than 1 per cent CO2 contained in our Beetaloo gas resource, the challenge of offsetting the emissions of our development is significantly lower than other gas sources,” Mr Underwood said.
“If the Greens were really committed to net-zero, they would get on board with Tamboran and the Beetaloo Basin as Australia’s greatest emissions reduction initiative,” Mr Riddle said. “It lays the groundwork for more obstacles to new investment in gas supply, contrary to Labor’s recent message that Australia needs more gas supply,” he said.
But of the 118 publicly announced resources and energy projects outlined by the Industry Department last year, 22 are hydrogen, 18 are coal, 18 are for infrastructure-related projects like gas pipelines, 17 are for other commodities, 11 are for oil and gas, 11 are for iron ore, eight are for copper, four are for nickel and cobalt and one each for lithium and uranium.
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