New study shows how shale gas could benefit Northern Territory

Developing a shale gas industry in the Northern Territory could drive significant long-term economic growth, creating thousands of new jobs and generating almost $1 billion of government revenue, a new study has found.

The study is the first comprehensive assessment of how a new shale gas industry could benefit the NT’s economy.

Commissioned by the Australian Petroleum Production & Exploration Association (APPEA) and produced by Deloitte Access Economics (DAE), the study examined two potential growth scenarios based on supplying shale gas and tight gas to the NT and eastern Australian markets, as well as export markets, between 2020 and 2040.

DAE found that, under the highest growth scenario examined, the cumulative increase in Gross State Product could reach $22.4 billion in net present value (NPV) terms.

The same growth scenario would result in a long-term employment boost of 6,300 full time positions in the NT and a cumulative increase in NT Government revenues of $961 million NPV.

The DAE report can be found at this link.