Australian Minister Celebrates First Gas from Beetaloo Basin

Australia's federal Resources Minister, Madeleine King, has celebrated the opening of the first gas project in the Beetaloo basin. The event, held alongside Northern Territory Chief Minister Lia Finocchiaro, marks the start of extraction from what is described as a massive fossil fuel reservoir.

Todd Abbott, CEO of developer Tamboran Resources, stated the sub-basin contains about 200 trillion cubic feet of gas. He claimed this makes it the world's largest non-oil gas field outside the Middle East or Russia. Abbott said that volume could power every home in Sydney 20 times over for more than a century.

Political Backing and Climate Warnings

The opening proceeded despite longstanding warnings about the project's climate consequences. Neither the minister nor the chief minister acknowledged the heat-trapping pollution that extracting and burning the gas would release. A 2018 Northern Territory government inquiry had recommended that any shale gas development should not increase Australia's net emissions. This would require offsetting all emissions from the gas through carbon credits.

The then NT Labor administration initially backed this recommendation but abandoned it after gas industry objections, according to documents. The current Country Liberal Party government has since scrapped a 50% renewable energy target for 2030 and abandoned a promised emissions reduction target.

The Emissions and Cost Reality

Projects in the Beetaloo will not be required to limit emissions under Northern Territory law. Some will fall under the federal safeguard mechanism climate policy, but analysis suggests this will have little effect on emissions in the next few years. On costs, gas is routinely the most expensive form of energy in Australia, often far costlier than firmed renewable energy. Production at new basins like Beetaloo is expected to be more expensive again.

Chief Minister Finocchiaro called it a landmark day for the local economy, saying it would address energy affordability and that prices would "stabilise over the long term." She has also argued she can provide cheap fuel for datacentres.

A Contradiction in Climate Policy

Minister King was asked about criticisms that she was backing a 'carbon bomb'. She responded that Labor was "dealing with climate change" while also supporting gas. This comes as a new UN Environment Programme report states the goal of limiting global heating to 1.5C will inevitably be passed, with 1.8C now the most optimistic future. Every extra fraction of a degree intensifies risks from extreme weather, glacier melt, and sea-level rise.

The celebratory event occurred while the Prime Minister was at the Pacific Islands Forum, speaking with leaders of countries threatened by emissions-driven sea-level rise.