Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Part two from Frank Tudor's comments:
but it is certainly a part of the mix.”
Mr Tudor says gas is going to become a fuel that cleans up as it replaces coal with renewable energy and gas. “Then it is going to enable everincreasing levels of renewable energy penetration by being able to provide that almost firming of last resort,” he said.
“Then ultimately gas will go through its own transition.
“Gas is a fuel that helps with the transition from coal and then will in turn go through its own transition. I’m all for responsible revolution and there are studies done that show you can get to net zero by 2050 by using the right combination of gas, and electricity rather than saying go completely to one.”
Mr Tudor says hydrogen has a future in the Northern Territory.
“It is a long term fuel that is rapidly capturing the imagination of the world and in the Northern Territory there is an abundance of land and there are companies that are very conversant with the logistics in the Territory,” he said.
“They have relationships with utilities in the Asian countries. There are companies in Japan and Korea that are very keen to see hydrogen developed almost as it did with the LNG industry.
“Australia really is stepping up to the mark in terms of having a national energy policy matching countries like what Japan is putting out, putting funding towards it.
“The Northern Territory, Western Australia and Queensland are well placed to be able to produce green hydrogen important to those overseas countries.”
Here is part one of some very positive comments by Frank Tudor on the Beetaloo and it's future importance to Australia.
LNG hub and Northern Gas Pipeline ‘offer bright future’
THE Northern Territory has enormous potential in terms of its energy resources and is on track to become a world ranked LNG hub, says the head of the company that operates the Northern Gas Pipeline (NGP), a 622km gas transmission pipeline between Tennant Creek and Mount Isa.
Jemena managing director Frank Tudor is an experienced energy industry leader in Australia, with more than 30 years’ involvement in the international oil, gas, and power industries .
Having held various senior executive roles across the sector throughout his career Frank says the Territory is blessed with a world class resource — the gas rich Beetaloo Sub Basin.
The Northern Gas Pipeline, which links the formerly separate northern and eastern gas markets, started commercial operations in January 2019.
“The Beetaloo is tremendously exciting and Territorians should be excited about what this can deliver for them in economic benefits,” Mr Tudor told the NT News in Darwin.
“It’s a world class resource … if you look at just the revenue that is associated with the resource it is about $1.7 trillion.
“This is the equivalent of Australia’s GDP in one year contained in that one area.
“The Territory is blessed with an enormous resource and the Northern Gas Pipeline is the first leg in actually starting to position for the export of the gas to the east coast and of course we want to bring it to Darwin as well.
“That future for the Northern Territory is hugely exciting for the Territory and is positioned to become a global powerhouse.
“We think there are opportunities to pursue in partnership with companies in the Northern Territory and we are also very heavily invested in the Beetaloo and the existing pipeline is an important first step in actually building out all the way to the east coast.
“Over the next five to 10 years you’re likely to see 4000 to 5000 jobs in the Beetaloo because the Beetaloo is so big that you can send as much gas east as you need and you can send as much gas north as you need too.”
Mr Tudor says the recent federal government decision to single Darwin out as a future regional energy hub is on the money.
“The Territory has the resource, proven track record of coming together to with private investors to deliver mega projects, exports projects like the Inpex LNG project and it just needs to build on that,” he said.
“Beetaloo is also really important for the energy transition where we see coal being replaced by a combination of gas and renewable energy.
“Gas is there to firm renewable energy and there are other technologies that can do it. Batteries can do it as well but they only work for short periods at a time. Pumped hydro is there but you have to have the typography , the water and so on, so there is limited options for that, but it is certai