First gas will flow tomorrow from the Beetaloo Sub-basin into the Northern Territory gas network, marking the transition from potential to production.
Development of the basin is forecast to generate more than $17 billion in economic value over the next two decades and support more than 13,000 jobs by 2040 .
The milestone is the result of the Finocchiaro CLP Government's commitment to backing Territory gas by reducing red tape, delivering certainty in decision making and stopping lawfare.
In a historic moment for the Territory and the Finocchiaro CLP Government, Territory homes, businesses and industry will be powered by Territory gas which officially starts flowing from the Beetaloo Sub-basin tomorrow.
More than 40 terajoules a day will flow straight into the Territory grid from one of the world's most significant onshore gas reserves, containing an estimated 430 trillion cubic feet of gas in place, enough to meet Australian gas demand for 200 years.
Development of the basin is forecast to generate more than $17 billion in economic value over the next two decades and support more than 13,000 jobs by 2040 through royalties, business growth, construction activity and long-term employment opportunities.
Chief Minister Lia Finocchiaro and Minister for Energy Gerard Maley will be at Tamboran's Shenandoah South development for the landmark moment when first gas is turned on.
The Chief Minister said gas from the Beetaloo Basin would secure the future for generations of Territorians by driving new investment in the Territory across a range of sectors, creating employment and growing the economy.
"This is a pivotal moment in the Territory's history, and a turning point in our bright future as a decade of potential becomes production," the Chief Minister said.
"As a Government, we are so incredibly proud to say that gas from the Beetaloo Basin will be powering Territory homes and businesses. Every time Territorians flick on a light switch, or pull a cold beer from the fridge, they'll see the benefits of the Beetaloo Basin at work.
"The Beetaloo Basin will usher in a new era of energy security, industrial development, and economic prosperity and opportunity for Territorians and our nation."
The commencement of Beetaloo Basin gas production positions the Territory at the forefront of Australia's energy security.
Minister for Mining and Energy Gerard Maley said first gas represented the beginning of a new chapter for the Territory economy.
"The conversation is no longer about what the Beetaloo could deliver, but what it is delivering: investment, jobs, infrastructure, supply chain opportunities and, from today, a new source of reliable and affordable energy for the Territory," Mr Maley said.
"Since coming to office, our Government has made unlocking the Beetaloo and getting it into production a key economic priority.
"We recognised that having a world-class resource underground was not enough. We needed to create the right conditions for companies to invest, develop projects and bring that gas to market."
The Chief Minister said the milestone was only the beginning.
"We are at the beginning of the next chapter."
Since coming to Government, the Finocchiaro CLP Government has implemented a series of reforms to support resource development and improve investment certainty.
Key initiatives include establishing the Territory Coordinator to accelerate projects of economic significance, modernising petroleum legislation, streamlining retention licences, introducing contemporary tenure arrangements and delivering a new code of practice for well integrity.
The Government has also released approximately 4,000 square kilometres of highly prospective acreage in the Beetaloo Basin, supported construction of APA's Sturt Plateau Pipeline, enabled appraisal gas recovery projects and progressed future energy infrastructure connections, including the proposed North Australia to East Coast gas pipeline and Territory Energy Link.
