Industry News

The Finocchiaro CLP Government will scrap the former Labor government’s unachievable target of 50% renewable energy generation by 2030.

Years of inaction, lack of coordinated infrastructure investment, rising power prices, and grid instability under the previous Labor government has made it clear that attempting to meet this target would put an unacceptable financial burden on Territorians and crippling pressure on our aging electricity network.

Minister for Mining and Energy and Minister for Renewables, Gerard Maley, said the CLP Government was taking a responsible and pragmatic long-term approach to energy reform, guided by three key strategic priorities: affordability, security and reliability.

“Today I will deliver a Ministerial Statement outlining our government’s plan to secure the Northern Territory’s energy future,” said Mr Maley.

“Our government has promised 2025 will be a year of action, certainty and security, and that’s what these changes will deliver.”

After eight years of Labor and their 50% renewables target, renewables in 2024 accounted for less than 20% of the Territory’s energy generation.

Achieving Labor’s 50% renewable target by 2030 is now estimated to cost up to $5 billion, which equates to $56,000 per Jacana household.

“If we don’t make these changes, Territorians would be paying the highest power prices in the country,” said Mr Maley.

“We are taking decisive action to secure the Territory’s energy future by developing vital reforms to improve grid reliability, lower costs, and ensure a stable and well-managed energy transition.”

To protect households and businesses, the CLP Government has responsibly capped retail electricity prices to 3%, benefiting around 85,000 households and small-to-medium businesses.

Other measures include:

• Strategic investment in energy infrastructure to address forecasted energy supply shortfalls;
• Expansion of large-scale solar and battery storage to reduce the cost of supply whilst maintaining grid stability; and
• Development of the Beetaloo Sub-basin to provide an abundant and reliable source of gas to underpin our energy security and economic growth.

“Our focus is on delivering an affordable, reliable, and secure energy system that meets the needs of families, businesses, and industry — now and into the future,” said Mr Maley.

“That means balancing renewables with gas to optimise grid stability, drive down costs, and ensure supply security.

“If we continue with Labor’s reckless pursuit of a 50% renewable energy target by 2030 without the necessary investment and planning, it won’t just be an ideological issue—it will require substantial infrastructure upgrades that will lead to higher electricity costs, an increased risk of blackouts, and greater instability across the electricity network.

“We are taking responsible action to stabilise the grid while ensuring renewables can expand in a way that benefits Territorians.

“Our approach ensures a stable, affordable, and prosperous energy future for Territorians — without sacrificing reliability or driving up costs.”

Source: Northern Territory Government Newsroom

The Finocchiaro CLP Government has passed the Petroleum, Planning and Water Legislation Amendment Bill 2025 in Parliament today, paving the way for certainty and investment in the Territory’s economy.

Minister for Lands, Planning and Environment Joshua Burgoyne said the changes would remove the ability for third parties to seek merits review of decisions made under the petroleum, planning and water acts.

“To rebuild the Territory’s economy, we must provide business and industry with the confidence to invest their time and money to develop here,” said Mr Burgoyne.  

“For years, development in the Territory has been held hostage to the whims of groups with disruptive agendas who have weaponised the merits review process to delay development at all costs.”

Since 2020, there have been 18 third-party merits reviews on decisions made by the independent Controller of Water Resources under the Water Act 1992.

Almost all of the original decisions were upheld after the third-party merits review process concluded.

“These constant delay tactics have cost the NT Government and proponents significant time and money and ultimately, have damaged our economy,” said Mr Burgoyne.

“It is time for an approval to mean an approval once more, and this all ties in with our commitment for 2025 being a year of action, certainty and security."

Mr Burgoyne said the NT’s planning and environmental laws had been reformed over time to be strong and contemporary, with projects under the relevant acts subject to a range of regulatory processes, including public exhibition.

“The public exhibition process allows stakeholders and interested parties to make submissions, with all submissions required to be considered by the decision maker," he said.

“If interested parties are serious about ensuring projects are safely regulated, they should be making a dedicated effort to partake in public exhibitions, rather than wait until informed decisions are made and seeking to delay projects through the merits review process."

The common law right to judicial review will remain and any third-party merits review processes already underway will continue.

Source: Northern Territory Government Newsroom

Top End Energy is pleased to announce the appointment of Luke Velterop to the role of Chief Executive Officer, effective immediately.

Patrick Burke, Chairman commented: “We're thrilled to see Luke take on the role of CEO. His strategic vision in the natural hydrogen sector was a key factor in our decision to acquire Serpentine Energy. With experience across both traditional and emerging energy sectors, combined with an entrepreneurial mindset, he is the ideal fit to lead our next phase of growth.”

Luke joined the Company in December 2024 as part of the acquisition of Serpentine Energy Pty Ltd. He brings leadership experience in the U.S. natural hydrogen sector as the Founding Director of Serpentine Energy and former Chief Operating Officer at HyTerra. Based in the United States, Luke has a professional background in geology, oil and gas drilling operations, project management and new energy projects. He started his career in oil and gas exploration and production before shifting focus to pursue clean hydrogen opportunities in 2020. Luke is a substantial shareholder in TEE, holding approximately 10% of the ordinary shares on issue, further underscoring his commitment to its long-term success.

On his appointment, Luke Velterop added: "I’m honoured to step into this role and highly motivated to unlock the transformative value of the natural hydrogen sector for the Company and its shareholders. I look forward to working with the excellent team in Australia as we develop our exciting gas projects.” 

Source: Top End Energy Website

The Finocchiaro CLP Government has early this morning passed the Territory Coordinator Bill in Parliament, delivering on its commitment to streamline decision-making and ensure a more coordinated response to supporting significant and complex developments in the Territory.

Chief Minister Lia Finocchiaro welcomed the passage of the Bill, highlighting its significance in re-defining the way business is done in the Northern Territory.

“This Bill strengthens our ability to deliver economic growth, attract investment, and streamline processes. It ensures we have the right structures in place to drive significant economic development opportunities efficiently and with certainty,” said Mrs Finocchiaro.

The Territory Coordinator will work closely with government agencies, industry, and key stakeholders to prioritise projects, provide expert advice, and ensure the Territory remains competitive on a national and global stage.

"Whether it’s coordinating essential infrastructure, identifying areas within the Territory for development or supporting significant projects, this role ensures we have the necessary framework to get things done efficiently," said Mrs Finocchiaro.

Mrs Finocchiaro also acknowledged the extensive community engagement undertaken during the consultation period.

“I’d like to thank interim Territory Coordinator Stuart Knowles and my department for their dedication," she said.

"Throughout the process, 321 participants attended six Community Information Forums, 559 written submissions were received, and 89 meetings were held with 267 individuals representing key sectors.”

The Bill was submitted to the Scrutiny Committee, a key accountability measure reinstated by the CLP after being scrapped by Labor.

It underwent rigorous consultation with the community industry, community groups, and key stakeholders to ensure it delivers real benefits for Territorians.

The passing of the Territory Coordinator Bill is a key component of the Finocchiaro CLP Government’s broader strategy to drive economic growth and reinforce the Territory’s commitment in rebuilding the economy and delivering action, certainty, and security for Territorians.

Source: Northern Territory Government Newsroom

A new Designated Area Migration Agreement (DAMA) has been secured for the Northern Territory to provide ongoing access for employers in the Territory until 30 June 2030.

The new agreement features an expanded range of 325 occupations across various industries and sectors in the Territory where there are workforce shortages.

There were 135 occupations available under the previous DAMA.

The NT was the first jurisdiction to establish a DAMA in 2015 and this will be the third DAMA established for the Territory.

The NT DAMA III allows for up to 1,500 approved nominations per year for overseas workers on a Skills in Demand or Skilled Employer Sponsored Regional visa, an increase from the 625 annual nominations facilitated under the previous agreement. 

Evidence of sustained labour market shortages is a key component in the establishment of the new DAMA and includes occupation and regional level labour market analysis undertaken by Jobs and Skills Australia.

Since 2015, the NT DAMA has enabled local employers to address their unique economic and labour market needs with a level of flexibility that is not available in standard skilled migration programs.

The new approach will also support the alignment of the DAMA program with state and territory migration plans and the multi-year planning models.

Minister for International Education, Migration and Population Robyn Cahill said: “The CLP Government is making it easier for Territory businesses to recruit and retain overseas workers in occupations that are in demand."

“Territory businesses experiencing critical skill shortages will now have access to more places and more occupations under the new and improved DAMA III," she said.

“DAMA III provides greater access to migrants and streamlined process for people wanting to live and stay in the Northern Territory.”

Federal Assistant Minister for Immigration, the Matt Thistlethwaite said: “The Albanese Government is supporting NT businesses to secure the workers they need to grow their businesses and thrive."

“At the same time, we make sure that workers are paid fairly with decent wages and conditions to participate in top end communities," he said.

“We have worked with the NT government to develop an agreement that will support business growth, fair worker conditions and growth in the NT economy.”

Source: Northern Territory Government Newsroom

The CLP Government has today launched its Rebuilding the Economy Strategy 2025-2028, an action plan to drive economic growth, create jobs, and restore confidence in the Territory’s future.

Speaking at the launch at a Minerals Council-hosted breakfast this morning, Chief Minister Lia Finocchiaro outlined the urgent need for action following eight years of economic decline, population stagnation, and missed opportunities under the previous government.

“Our schools are seeing fewer students, our businesses are struggling to find workers, and our communities are losing the people who make them thrive,” said Mrs Finocchiaro.

“Last August, Territorians placed their trust in our government to turn things around, and today’s Rebuilding the Economy Strategy is a direct response to pacing a way forward."

The strategy is a comprehensive blueprint for economic recovery, focusing on five key priorities:

1.  Making the NT the best place to do business – Cutting red tape, delivering regulatory reform, and ensuring investment confidence.
2.  Building a bigger, better workforce – Expanding school-to-work pathways, supporting businesses, and attracting skilled workers.
3.  Delivering for Australia – Strengthening the NT’s role in national economic growth, energy security, and defence.
4.  Unlocking regional growth – Empowering local businesses, investing in tourism, and strengthening partnerships with Aboriginal communities.
5.  Connecting the Territory – Improving infrastructure, digital connectivity, and transport links to support business and population growth.

The Chief Minister emphasised the strategy was not just words, but a plan already being implemented.

“Our government has moved swiftly to address the economic mess we inherited. We have introduced payroll tax reforms, streamlined project approvals, and refocused infrastructure projects to deliver real outcomes for Territorians," said Mrs Finocchiaro.

The strategy also tackles critical issues such as crime, population retention, and investment attraction, which are key to reversing economic stagnation and making the NT a more attractive place to live and do business.

“We will actively attract skilled workers, provide incentives for families to stay, and ensure the Territory is once again a place where people want to build their future. This means real action — reducing crime, improving housing, and strengthening our education system," said Mrs Finocchiaro.

The Rebuilding the Economy Strategy 2025-28 acknowledges the Territory’s unique competitive advantages, including world-class mineral deposits, abundant water resources, strategic defence importance, strong agricultural and tourism sectors, and trade positioning.

“The Northern Territory has everything it needs to succeed. Our government is determined to unlock the full potential of our industries, attract new investment, and build a more prosperous future for all Territorians," said Mrs Finocchiaro.

For more information, or to download a copy of the strategy, visit the website.

Source: Northern Territory Government Newsroom

Japan's Inpex has doubled down on its commitment to expanding liquefied natural gas (LNG) production in Australia, identifying a long-anticipated third processing train for its Ichthys LNG project in Darwin as a key part of its newly launched Inpex Vision 2035.   

Inpex, backed by Japan's strong gas push, signalled fresh enthusiasm for Australia with a multibillion-dollar roadmap for Ichthys—but it all depends on Australia cutting red tape.

In March 2023, CEO Takayuki Ueda warned that the country's gas policies could have "sinister consequences." By December, reports suggested Japan's trust in Australia's energy security was fading, putting LNG and hydrogen investments at risk

"This focus on LNG is good news for Ichthys.," MD Bill Towsend said at EXA 2025 in Perth today.  

"The project has a 40-year lifespan, meaning operations could run until at least 2058. However, we currently don't have enough gas in the Ichthys reservoirs to sustain that timeline. 

"There're two reservoirs to keep our facilities full for the full 40-year operating life so we are intending to find backfill and we found some with Cash Maple already and we'll continue to do so to keep our facilities up and running at full capacity until 2058 or beyond," he added.   

Townsend said Inpex growth would need an expansion at the facility, driven by growing regional demand. 

"Beyond the two processing trains that we have in Darwin, we're looking to expand with the third train there, on the back of the demand growth," he added.    

"Recent data from Rystad shows gas demand in the region is set to rise 60% over the next decade, peaking in 2035," he said.   

"That contradicts some popular narratives and underscores the need for long-term supply."   

Inpex is also taking steps to address Ichthys LNG's high carbon footprint, with plans to cut emissions in the near term.   

"We've formed a joint venture with Woodside and TotalEnergies on the Bonaparte CCS project, which we see as a world-scale carbon capture and storage opportunity," Townsend said.  

"For Ichthys alone, this could reduce CO₂ emissions by about 40%," he added. 

Source: Energy News Bulletin

Central Petroleum Limited (ASX:CTP) (“Central” or “Company”) advises that the recentlycompleted WM30 production well at the Mereenie field was tied-in and brought online on 26 February.

WM30, the second and last well in the Mereenie drilling program, is currently producing over 4 TJ/d at the wellhead (100% JV) and is expected to stabilise at between 4 TJ/d and 4.5 TJ/d, exceeding the pre-drill expectation of circa 3 TJ/d per well. Combined, WM29 and WM30 have increased Mereenie sales gas capacity1 by circa 9 TJ/d.

Total Mereenie field sales capacity is currently circa 32 TJ/d, meaning the two-well development program has significantly exceeded expectations. Mereenie sales volumes over the past week have ranged between 28 and 32 TJ/d due to temporary export pipeline restrictions and maintenance to existing wells.

The additional Mereenie gas is being sold on an as-available basis into the Northern Territory market under recently executed GSAs. Firm gas under those contracts can be expanded by up to 6 TJ/d (100% JV) to generate further firm cash flow from this development well program.

The project was delivered safely to an accelerated schedule with a total delivered cost under the budgeted $8 million (CTP share).

Central’s Managing Director Leon Devaney said, “This is a great outcome for the project, with production rates about 50% above pre-drill expectations, commencement ahead of schedule, and project delivery under budget. A sincere thanks to all our staff, contractors, and Joint Venture partners involved in this project. Working over summer in the Territory heat is never easy, but the team worked together to safely deliver reliable affordable energy to Territorians. We now look forward to other opportunities to increase production within a tight NT gas market to drive further value from our operating assets.” 

Source: Central Petroleum Announcements

Northern Territory start-up Environmental Keystones has been awarded the first investment by the Territory Infrastructure Loans program to construct, fit out and operate a cutting-edge pyrolysis plant in Wishart.

Pyrolysis is the process of thermally degrading organic materials at elevated temperatures, and Environmental Keystones, in partnership with Pyrochar Pty Ltd, has commercialised CSIRO-developed technology to do so.

The facility, which will be the first of its kind in the Territory, and the only one in Australia using CSIRO technology, will be capable of processing up to 50,000 tonnes each year of waste such as grass and shrub clippings, branches, woodchips, and palm fronds.

The plant will then convert the green waste into commodities including: 

• Bio-char which can be used in agriculture as fertiliser, as well as in water and air filtration systems. 
• Bio-oil which can be used as fuels, in refineries and bunker oils for ships. 
• Syngas which is used in industrial processes, for synthetic natural gas and sustainable aviation gas production. 
• Fertiliser and other high value carbon biproduct goods are on Environmental Keystones’ road map over the next 3 years.

The $8 million project has been made possible through a $5.59 million concessional loan from the Territory Infrastructure Loans program, funded by the Australian Government’s Northern Australia Infrastructure Facility (NAIF) and the CLP Government.

This project is also supported by CSIRO and Pyrochar and will be the first of its kind in Australia, pioneering new advancements in the industry. 

Minister for Trade, Business and Asian Relations Robyn Cahill said: "The Northern Territory Government, in partnership with NAIF, is proud to support Environmental Keystones as it develops a new solution to manage and repurpose green waste. "

“We look forward to continuing to work with the team as they progress the project, which is building industry capability, and creating brand new jobs for Territorians," she said.

The aim of the loan program is to elevate businesses looking to deliver small-scale Territory projects that expand infrastructure and improve outcomes, including for Indigenous Territorians. 

It’s anticipated that Environmental Keystones will create 30 new jobs during construction of the plant, and a further 12 full time positions during operations. 

For more information about the Territory Infrastructure Loans, please visit: https://invest.nt.gov.au/here-to-help/financing.

Quotes attributable to Minister for Northern Australia, Madeleine King:

“A strong north means a strong Australia.

“With support from NAIF, the Territory Infrastructure Loans program is supporting our regions and helping to create good, well-paid jobs.

“The Albanese Government will back more businesses through this program and continue to strengthen Northern Australia’s economy.”

Quotes attributable to Special Envoy for Defence, Veterans' Affairs and Northern Australia, Luke Gosling:

"This $5.59 million concessional loan underlines the Australian Government’s commitment to supporting projects that drive job creation, infrastructure growth, and sustainable practices across Northern Australia.

"The funding awarded to Environmental Keystones marks a significant step forward in sustainable development for Northern Australia, showcasing the region's potential as a leader in green technologies.

"This pioneering pyrolysis plant in East Arm will not only improve waste management but also create secure ongoing jobs and high-value commodities, contributing to a more sustainable future for the Northern Territory.”

Quotes attributable to Pyrochar CEO, Cameron Bell:

“Pyrochar is very excited to bring our technology to Environmental Keystones in the NT, transforming Northern Territory’s green waste into valuable energy and carbon products, producing clean & renewable energy while importantly creating local, long-lasting jobs.”

Quotes attributable to Environmental Keystones Managing Director, Nick Hanigan:

“Our partnership with Pyrochar, the NT Government and NAIF funding, enables us to bring cutting-edge technology to the Territory, creating jobs and delivering a cleaner, greener future. 

“We are very grateful for the opportunity and support of the NT Government.”

Source: Northern Territory Government Newsroom

The Finocchiaro CLP Government is committed to rebuilding the economy through a strong and competitive resources sector, as new figures confirm a significant surge in petroleum exploration investment across the Territory.

Australian Bureau of Statistics data shows petroleum exploration expenditure in the Northern Territory reached $200 million in the December 2024 quarter, which is the second-highest quarterly result on record in the NT.

For the full calendar year, petroleum exploration expenditure totalled $369.7 million, an increase of 469% from the 2023 figure of $78.8 million, reinforcing the Territory’s position as a key destination for investment in resource development.

Minister for Mining and Energy Gerard Maley said the figures highlight growing investor confidence in the Territory’s world-class gas basins and the Government’s commitment to unlocking economic opportunities.

“These results confirm that investors see the Northern Territory as a powerhouse for resource development, with our onshore gas basins leading the way in creating jobs and driving economic growth,” said Mr Maley.

“Importantly, this investment translates into real benefits for Territorians, with more jobs and more opportunities for local businesses supporting the sector.”

A significant proportion of this expenditure is likely to have been onshore, primarily in the Beetaloo Sub-basin and Amadeus Basin.

In total, petroleum and mineral exploration expenditure in the NT for 2024 reached $545.7 million, which is the second-highest combined annual exploration investment ever recorded in the Territory, behind the peak in 2014.

Mineral exploration faced more challenging market conditions in 2024, along with a downturn in prices for many critical minerals, contributing to a decline in NT expenditure. This reflected a broader national trend across all jurisdictions.

Total expenditure for the calendar year reached $176 million, a 23% decline from 2023, but still the fourth-highest annual expenditure on record.

The transition to a new environmental licensing regime also impacted activity, but with regulatory changes now in place, the sector is expected to stabilise in 2025.

“The NT Government is backing our resources sector because it is the backbone of our economy and a key driver of economic recovery, and we remain focused on ensuring the Territory remains a leading jurisdiction for exploration, investment, and job creation,” said Mr Maley.

Source: Northern Territory Government Newsroom