TERRITORIANS will foot a $250,000 bill to study the feasibility of an offshore gas project which could be worth billions to a group of five multinational corporations.
The Northern Territory Government will cover 40 per cent of cost to study the feasibility of building a second LNG train at ConocoPhillips’ Darwin LNG project, with the rest kicked in by ConocoPhillips and other gas companies with interests in underdeveloped gas fields to the north of Australia.
ConocoPhillips external affairs vice president Kayleen Ewin said the study was the “first step to commercialise the substantial offshore gas resources in Northern Australia”.
Ms Ewin said ConocoPhillips spent $1.5bn on exploring gas resources in the area since 2009. It’s expected the Bayu-Undan field — which currently supplies the Darwin LNG project — will run out in 2022, meaning a new source of gas will need to come online...
Read more: New train possible for Darwin gas project - NT News