Australia banks on Beetaloo for gas-led recovery
Canberra is providing exploration grants for Northern Territory shale play with the potential to rival the US Marcellus
The Australian government has highlighted the importance of the Beetaloo sub-basin to its “gas-led recovery” agenda with the announcement of A$50mn (US$38mn) worth of new exploration grants. The government will cover 25pc of eligible exploration costs in the Northern Territory shale play, capped at A$7.5mn per well and three wells per exploration venture. However, in a bid to fast-track drilling, the grants will be awarded only until 30 June 2022. Canberra has picked the Beetaloo as the first of five basins to support in a bid to unlock a resource potential that is frequently likened to that of the US’ prolific Marcellus shale. Federal minister for resources, water and Northern Australia Kei

Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30