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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
