Empire Energy managing director Alex Underwood told Sky News his company expected to produce the first gas from the Beetaloo by mid-2025.
“This is a huge resource, I think the Beetaloo contains around enough gas to supply Australia for the next 400 years,” Mr Underwood said.
The NT electricity system has been plunged into crisis after gas from the Blacktip offshore field of the NT coast dried up.
The first gas from the Beetaloo will be sold to the Northern Territory government to feed its domestic energy supply.
The Beetaloo Basin is an onshore gas field about 500 kilometres south of Darwin that covers an area of about 28,000 square kilometres – almost the size of Belgium.
Mr Underwood said Empire’s longer-term plans including piping gas to the east coast to help meet shortages, and to export gas from Darwin.
“They’ve got the cheapest gas in the world, but also they’ve started displacing coal production with gas, not due to government mandate but due to lower prices,” Mr Underwood said.
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