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NSW and NT Governments to develop a national and competitive domestic gas market

November 10, 2014 • Mining & Resources

The Premier of New South Wales and the Chief Minister of the Northern Territory signed a Memorandum of Understanding (MOU) on Friday to cooperate on the development of a pipeline that will connect the Northern and Eastern gas markets.

Image credit: flickr User: Bilfinger SE

Image credit: flickr User: Bilfinger SE

“The NSW Government recognises the benefits a gas pipeline connecting the Northern Territory and eastern seaboard would have for consumers in NSW. We are actively exploring all possibilities to increase gas supply to our domestic consumers and this MOU is an important step in offering NSW Government support to the process now underway,” said NSW Premier Mike Baird.

“By establishing a national grid we can help secure our energy needs and put downward pressure on household bills. Without affordable and reliable gas supplies our manufacturers will struggle to compete and households will pay higher prices.”

According to the joint media release by Mr Baird and Mr Giles, the NSW and NT Governments will join forces to develop and promote a national and competitive domestic gas market.

“A gas pipeline between Central Australia and the East Coast is both a win for the Territory economy and a win for states such as New South Wales that urgently need to secure an affordable new energy supply. Momentum for this nation-building project has been growing since the recent COAG meeting where leaders voiced unanimous support for the pipeline. It is fantastic to now also have a specific MOU with NSW agreeing to work together on this project,” said NT Chief Minister Adam Giles.

“The Territory Government understands that time is of the essence and we are doing everything we can to get this project off the ground as quickly as possible. More than 100 people from all sectors of the gas industry turned out at an industry briefing in Alice Springs last week to hear more details about the project. Expressions of interest from the private sector for building and operating the pipeline open on the 13th of November and we are expecting strong interest.”

Published @ Australian Resources.

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