Well central share holders, the news just keeps getting better,...

Well central share holders, the news just keeps getting better, read below.

ANY decisions making it difficult to source gas for the North Gas Pipeline would compromise economic benefits, constructor Jemena has warned.

Territory Labor announced on Wednesday it would impose a moratorium on fracking. The decision has been condemned by the Giles Government and questioned by industry participants.

Jemena told the NT News gas would still flow in 2018.

“Work has already started on designing and building the NGP, and first gas will flow from 2018,” a spokeswoman said. “However, any decision that would make it more difficult for customers to source additional gas could compromise the opportunity to build a bigger pipeline and deliver greater economic benefits to the NT.”

Chief Minister Adam Giles said Labor had shown it was anti-jobs by proposing a ban on fracking.

“Labor’s ban threatens the $800 million gas pipeline to the East Coast, and the 900 jobs it will create by robbing the pipeline of gas it needs to be viable,” he said.

election is supposed to be a battle of ideas. Labor has shown they have nothing innovative to create new jobs and no interest in developing new opportunities other than what the Government is already pursuing.”

Opposition Leader Michael Gunner said there was enough gas for the pipeline without developing onshore.

“It has always been clear that the excess gas from ENI and future supplies from Mereenie and future offshore supplies are what you need to build your business case around the pipeline on,” he said.

Central Petroleum managing director Richard Cottee, who does not have gas tenements requiring fracking, said it had been used in the NT since 1982.

“I am disappointed in the decision because there has been more inquiries into fracking than you can poke a stick at,” he said.

The Mereenie gas fields in Central Australia have 55 wells, all of which were fracked. The first wells were fracked in 1982 and the last wells were fracked in 2009. The depths are between 2km and 4km.

http://www.ntnews.com.au/business/g...t/news-story/3a27ff06cef4ccbfe3e89033e8c1ad1f