Falcon Oil and Gas (FOLGF)

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News from Northern Territory

Fracking Long Wait for Gas

Labor soft-pedals planned cuts
NT News - Friday, 17 Feb 2017 - Page 5

THE Federal Government is pleading for urgency on the fracking moratorium as the NT Treasurer said we would not see the benefits of onshore gas for a decade.

Nicole Manison has defended the Gunner Government’s decision to maintain a fracking ban after federal politicians including Resources Minister Senator Matt Canavan and Territory Senator Nigel Scullion called for them to “end this silly moratorium.”

Origin Energy has confirmed an onshore gas discovery five times the size of the Inpex fields.

A Deloittes Access economics report estimates onshore gas could create 6300 jobs and generate more than $960 million in revenue for the government .

Ms Manison said the Territory would not see the benefits of onshore gas for a decade if the fracking moratorium was lifted tomorrow.

“The impression if you allowed fracking tomorrow there would be immediate jobs growth and revenue to the government is wrong,” she said. “Even with a full blown fracking agenda then you won’t see those benefits until 2025.

“We’ve got the inquiry happening and from that we will make a decision as a government to go forward or have high regulation around it.”

Senator Canavan urged the Gunner Government to accelerate its fracking inquiry.

“The Northern Territory needs to create jobs as the Inpex construction winds down,” he said.

“It’s clear that gas projects could create jobs in the Territory . If the Northern Territory Government wants to create jobs it should conclude its inquiry as soon as possible.”

Senator Scullion said the Gunner Government was damaging confidence.

“More than 6000 jobs are at stake here,” he said.

“Other gas projects have stalled in the NT putting in doubt additional jobs that the Territory desperately needs. Mr Gunner must come to his senses and end this silly moratorium .

“The Gunner Government is trashing the Territory’s reputation with its gas moratorium and its ham-fisted handling of the economy.”