A report released by the Institute for Energy Economics and Financial Analysis on May 19 has said that the $800 million gas pipeline planned for the Northern Territory is economically unviable, to the extent that it is described as the “whitest of white elephants”.
The pipeline, known as the North East Gas Interconnector (NEGI), has been the crown of the NT Country Liberal Party’s economic strategy in the lead-up to the August election. The pipeline is designed to transport the vast shale gas reserves in the NT from Tennant Creek to Mt Isa for sale to the rest of the world.
North East Gas Interconnector (NEGI)
As the demand for Australian farm products skyrockets in Asia, corporate Australia is buying up drought-crippled but viable rural properties at bargain prices.