NT Chief Minister Michael Gunner last week unveiled the new Territory Economic Reconstruction Commission and released Operation Rebound – a new paper developed to guide the commission’s task of helping the region recover from the economic impacts of the COVID-19 pandemic.
Through Operation Rebound, the government said it will develop new policy settings “to streamline the development of critical industries, including options to secure long term domestic gas supply”, as well as to “escalate efforts to inject local business into supply chains, defence, oil and gas”.
The Australian Petroleum Production and Exploration Association (APPEA) welcomed Mr Gunner’s announcement, saying gas has continued to play an important role in the NT’s economy.
“Our members stand ready to invest hundreds of millions in exploring the NT’s natural gas reserves, and many times that in bringing anticipated projects to full production,” said APPEA Northern Territory Director Keld Knudsen.
“We look forward to engaging with the commission and the government on the recovery and creating new opportunities for the Territory.”
The commission has been asked to provide an interim report by late July and final report in November.
For more information visit the NT Government website.
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