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Feds to "turbo charge" oil and gas investment in Northern Australia

Feds to "turbo charge" oil and gas investment in Northern Australia

02 Oct 2020 4:30 PM | Sonia Harvey (Administrator)

THE MORRISON government is seeking to “turbo charge” investment in resources by broadening the scope of projects eligible for funding under the Northern Australia Infrastructure Facility.

The government NAIF fund has already provided $2.4 billion in financing for major projects across the Top End. Projects include Kalium Lakes' gas plant and lateral gas pipeline, and $37 million for Merricks Capital's Hudson Creek P12 MW gas power Station in Darwin.

It has also helped finance Genex Energy's pumped hydro project in northern Queensland and some solar and wind renewables projects. Its largest single finance in the energy sector is worth $500 million.

Source: Energy News Bulletin

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