AUSTRALIAN prime minister Scott Morrison gave a special mention of the Beetaloo Sub-basin in his speech to the National Press Club yesterday.
The Morrison government released its strategic plan for development of the Beetaloo Sub-basin just last month, outlining federal commitments to bolster investment in the Northern Territory's newest gas and liquids play.
On Monday Morrison reiterated the government's commitment to the Beetaloo, saying it was part of a multi-billion-dollar package aimed at securing Australia's economy and energy security going forward.
"The Beetaloo strategic basin plan has been released, with four more coming. The pipeline market will be further improved as will liquidity of the Walumbilla gas hub. All important changes," he told the National Press Club.
"Our priorities are clear. We're investing, we're encouraging others to do the same."
Just a fortnight ago, the Morrison government published the strategic plan for the Beetaloo.
It included more than $200 million in funding, aimed at reducing investment risk and fast-tracking exploration in the region.
The government outlined four clear actions to boost investment, regulate, maximise infrastructure and open markets while boosting benefits for regional communities.
Action one focuses on "building a clear picture" of the basin and invests $1.2 million in gas development studies and infrastructure analysis.
A further $50 million was set aside to help oil and gas companies drill wells. This was announced late last year.
The second action considers regulatory processes and cuts red tape. The federal government will work with the Northern Territory Labor government to "establish bilateral agreements'' which will include a streamlined approval process.
It charges the Gas Industry Social and Environmental Research Alliance (GISERA) - a body established under the CSIRO - to provide geoscience and geological reports for industry.
A third action includes a further $173.6 million of funding for new road corridors, building on the government's previously announced package of $217 million for road development to the Beetaloo.
Finally, the fourth action allocates $1.9 million to develop a Beetaloo Aboriginal Economic Development Strategy (BAEDS).
The government has long held the Beetaloo as a basin of strategic importance. Energy minister Angus Taylor has touted the potential of the Beetaloo as an answer to Australia's domestic fuel reserve - which currently has less than a month's supply.
Source: Energy News Bulletin
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