The Northern Territory Government has pledged $11.79 million towards the development of an onshore gas industry.
The funding was part of the government’s latest quarterly financial report that showed a fiscal deficit of $540 million up to 31 March 2020, down $247 million from the previous report released nine months earlier.
The government said it expected the budged position in the June quarter to be substantially different following the economic downturn brought on by the COVID-19 pandemic and would “do whatever it takes to protect Territorians” during the crisis.
The $11.79 million funding will be used to progress the the Strategic Regional Environmental Baseline Assessment (SREBA), which will be subsequently recouped through cost-recovery arrangements with industry.
The money will also go towards further implementation of the recommendations from the scientific enquiry into hydraulic fracturing, which allowed the practice to resume in the NT.
For more information visit the NT Government website.
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