The Northern Territory's oil and gas industry has welcomed Friday's announcement of the formation of the Territory Economic Reconstruction Commission.
This commission has been tasked with writing the roadmap for the Territory's recovery from the impacts of the COVID-19 pandemic.
Natural gas is already a key contributor to the Northern Territory's economy and Darwin hosts two major liquified natural gas export facilities, the Australian Petroleum Production and Exploration Association said.
Gas from both offshore and onshore sources has provided over 90 per cent of the Territory's electricity supply for many years.
There is also the potential for new onshore projects, such as the Beetaloo Basin, to power further growth and contribute to the economic recovery.
APPEA's Northern Territory Director Keld Knudsen said successful exploration, appraisal and development of these resources could provide significant benefits of jobs, local business opportunities, new value-adding industries, infrastructure and community investment for decades to come.
"Our members stand ready to invest hundreds of millions in exploring the NT's natural gas reserves, and many times that in bringing anticipated projects to full production," Mr Knudsen said.
"We look forward to engaging with the commission and the Government on the recovery and creating new opportunities for the Territory."
"Let's be clear, the fracking industry in the NT is a leaner, not a lifter," Protect Country Alliance spokesman Dan Robins said.
"The frackers are slackers who have guzzled more than $100 million in public funds over the past decade, while giving absolutely nothing back to Territorians."
Mr Robins said fracking was the wrong way to encourage more manufacturing in the Territory.
"The shale gas industry has already been given more than $100 million of taxpayer money by the NT Government and now it is asking for more," he said.
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