STRONG INTEREST IN NORTH EAST GAS INTERCONNECTOR

Expressions of Interest from companies wanting to construct the proposed gas pipeline linking the Northern Territory to the East Coast gas grid are being assessed by the Northern Territory Government.

Fourteen EOIs were lodged by the deadline in mid-December 2014 and Territory Chief Minister, Adam Giles, said the government wanted to release a shortlist of companies as soon as possible because there was no time to waste on the project.

“I am thrilled to see such strong interest from both local and overseas pipeliners in this important nation-building project,” Mr Giles said.

“This pipeline has the potential to create jobs and industry in the Territory, as well as relieve the East Coast gas crisis.”

Mr Giles said it was estimated the Territory had more than 200 trillion cubic feet of gas resources in six onshore basins and 30 trillion cubic feet of offshore gas reserves.

“We have the gas the country needs to develop new industries and meet demand for domestic energy, but the gas isn’t currently accessible. This pipeline could change that, opening up new economic opportunities for the Territory.

“By creating new market access for NT gas, the pipeline has the potential to unlock investment capital and increase the level of exploration and development across the Territory.”

The project will also generate substantial economic activity and employment during the construction phase and long-term operational phase.

“Much of this employment will be generated in regional areas of the Territory where jobs are needed most,” Mr Giles said.

“The Territory has a growing reputation as a gas hub with most of the services required to plan, construct, own and operate significant pipelines already available here. This is a huge opportunity to expand that reputation further.”