Fracking Inquiry Update

Latest update can be found at:

https://frackinginquiry.nt.gov.au/news/community-update-27

The press from yesterday (below) seems to think it’s all pretty positive. This could be a good quarter/half for CTP if all the ducks keep lining up (ie. fracking inquiry, pipeline tariff reforms, drilling results, etc).

That said, they have been known to drop the ball quite a bit in the past…


“The Northern Territory may soon get a sorely needed economic shot in the arm with the government poised to lift its fracking ban in 2018. A $3 million independent inquiry found the risks associated with the controversial gas extraction method could be mitigated to "acceptable levels" if 120 recommendations were implemented in full. The Gunner government continues to feel federal pressure to end its moratorium amid concerns about east coast supply and prices. Labor has repeated its election promise to wait for the final report, due in March, after which it will either ban onshore gas altogether or allow it in tightly prescribed areas and highly regulated circumstances. The 15-month hydraulic fracturing probe's draft final report calls for any prospective shale gas basins to have two- to three-year baseline groundwater studies completed before any production licences are granted. Australia's oil and gas lobby says NT fracking could generate $1 billion in royalty revenue and 6,300 jobs by 2040, but predicts no significant exploration will occur until 2019 amid industry uncertainty. The NT Chamber of Commerce is also concerned recommendations for onerous red and green tape could stifle business investment, which will impact flow-on industries including the construction, transport, retail and public sectors.”