A week is a long time in politics - perhaps an historic misquote - but the past seven days in Australia have been exciting for upstream players and their renewable energies and hydrogen counterparts alike. The Northern Territory government last week essentially removed barriers to the exploitation of shale gas resources in the onshore Beetaloo basin. Development here would produce low-carbon dioxide volumes with the revenues benefitting both the NT government and Traditional Landowners that do not enjoy the spoils from offshore projects. Local players, including Empire Energy and Tamboran Resources, are wasting no time in accelerating their plans in the Beetaloo, with both aiming for production before 2025. Tam- boran has already arranged to import a US land rig that will be the most powerful onshore drilling unit on Australian soil. Just days after the NT government's landmark announcement, Australia's Treasurer Jim Chalmers unveiled proposed changes to the Petroleum Resource Rent Tax (PRRT), which is typically paid by offshore gas producers.
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