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