Is it any wonder that, with all that gas around in the area MQG wants to lay their hands on what we have got.?
The point is that they don't want to pay much for it and wants to get it all for just a small pittance.
Shame on them.
##""(APPEA welcomes NT framework
THE oil and gas lobby has welcomed yesterday’s release of the Northern Territory Economic Development Framework in the hopes it signals a willingness to allow fraccing to unlock a potential 200 trillion cubic feet gas bonanza for the Top End.
NT Chief Minister Michael Gunner released the framework designed to help provide a clear, long-term work plan for the NT economy, to improve living standards and provide certainty to business and industry.
The document recognised that the NT has globally significant onshore and offshore energy reserves and a long history as a supplier of oil, gas and uranium to global markets.
"The Territory can contribute to improving global and national energy security, and in doing so deliver significant local economic growth opportunities," the framework said.
It recognises that any development needs to be managed to minimise environmental impacts and to reflect community attitudes, and that requires a robust regulatory environment, but one that supports investment.
The report recognises that the independent Scientific Inquiry into Hydraulic Fracturing of Onshore Unconventional Reservoirs, which is set to deliver its findings later in the year, is vital if the NT is to unlock its energy resources.
The Australian Petroleum Production and Exploration Association's NT director Matthew Doman said he was pleased to see that the framework recognised the "vital role" that gas could play as one of the territory's major growth sectors.
"With almost 30 trillion cubic feet of offshore gas reserves, and potentially far greater resources onshore, the Northern Territory economy will benefit from the decades long development and production of natural gas for both domestic and export markets," he said.
"The framework highlights that the NT's onshore basins are estimated to hold around 200Tcf of gas, enough to power Australia for 200 years.
"The oil and gas industry recognises that onshore gas development in the territory must be done in an environmentally and socially responsible manner."
APPEA is working with the fraccing inquiry to put forward the industry's case that it has strong environmental and social practices.
"The industry also recognises the need to inform Territorians of the benefits from the development of onshore gas, including opportunities for local businesses and jobs," he said.
"APPEA and its members operating in the Territory will once again be present at next month's regional shows in Alice Springs, Tennant Creek, Katherine and Darwin."
Doman said a 2015 study by Deloitte Access Economics had found developing gas could increase NT government revenues by almost $1 billion by 2040 and create up to 6300 new jobs - with many of these jobs created in regional areas.
The fraccing inquiry recently commissioned new independent economic modelling to further evaluate the impact of new gas development.
The report also examined the NT's target of getting 50% of its electricity from renewable sources by 2030, most likely with solar leading the charge.
The Gunner government is developing a renewable roadmap, and believes renewable energy could improve the competitive position of a broad range of businesses if it can be harnessed to deliver lower cost electricity than alternative fuel sources.
"With natural gas already providing over 90% of the NT's electricity, the Territory is well placed to integrate an increased share of renewables without compromising reliability of its power supply," Doman added.)""##
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