Fracked gas from Beetaloo Basin will flow to NT power grid from today

Gas fracked from the Beetaloo Basin will this week begin feeding into the grid to power Northern Territory homes and businesses — a milestone that has been met with both celebration and concern.

Eight years after the NT's moratorium on fracking was lifted, the tap is officially being turned on at the remote and expansive onshore gas development hundreds of kilometres south of Darwin today.

In a statement, NT Chief Minister Lia Finocchiaro said gas from the Beetaloo Basin would "drive new investment in the Territory across a range of sectors, creating employment and growing the economy".

"This is a pivotal moment in the Territory's history, and a turning point in our bright future as a decade of potential becomes production," she said.

Government officials, gas company heads, native title holders and the Northern Land Council (NLC) are expected to be in attendance for the moment.

NLC chair Matthew Ryan said in a statement the NLC believed the new agreement would lead to jobs and benefits for native title holders in the Barkly region, the remote town of Elliott and surrounding communities and outstations.

"Today is an example of what can be achieved when native title holders have a seat at the table with industry," Mr Ryan said.

"Working with traditional owners is key for economic growth for the whole territory."

Gas company Tamboran Resources' chief executive Todd Abbott said the company was "committed to ensuring this development creates meaningful and lasting opportunities".

The Country Liberal Party (CLP) government has long claimed the Beetaloo Basin would be a key economic driver for the NT, and said "more than 40 terajoules a day will flow straight into the Territory grid" from today.

"Development of the basin is forecast to generate more than $17 billion in economic value over the next two decades and support more than 13,000 jobs by 2040," the statement said.

'Bit of hype' around economic benefits

However, there is some disagreement about exactly how much revenue and employment the Beetaloo will generate.

Independent economist Saul Eslake described the milestone as "significant" but said it would not offer a silver-bullet solution for the NT.

"I think there's a bit of hype in saying it will change the Northern Territory economy forever, but it is a very significant development," he told ABC Radio Darwin yesterday.

Mr Eslake said annual estimates on the amount of royalties the project would generate varied from $36 million to "in excess of $220 million a year".

Over the weekend, concerned Territorians gathered in Darwin's northern suburbs for an anti-fracking rally organised by the Environment Centre Northern Territory (ECNT).

"This is a PR stunt from an industry with bleak economic prospects and no social license to operate in the Territory," ECNT acting co-chief executive Bree Ahrens said.

Part of their concern was an NT government plan to make the territory the data centre capital of the world, powered by gas fracked from the Beetaloo.

"We are calling for a ban on fracking and AI data centres before it's too late," Ms Ahrens said.

While the NT government has rolled out pro-Beetaloo Basin flags across Darwin, Ms Ahrens said new anti-fracking signage was going up simultaneously.

"More than 500 Darwin residents have already signed up to put a new 'Ban Fracking' sign on their home or business," she said.