"Australia Is a Key Partner for Korea in Restructuring Energy Supply Chains"

Cahill, Northern Territory Minister for Trade
Beetaloo Basin Holds Gas Reserves for 200 Years
Barossa Gas Field Project in Collaboration with SK
Key Role in Countering China-Centric Rare Earth Supply Chains

The Northern Territory of Australia is emerging as an alternative hub in the ongoing global restructuring of energy supply chains, based on its vast shale gas reserves and critical minerals.

Robyn Cahill, Minister for Trade, Business and Asian Engagement of the Northern Territory, Australia, is being interviewed by The Asia Business Daily at the Four Seasons Hotel in Jongno, Seoul. Photo by Jo Yongjun

On April 16, Robyn Cahill, Minister for Trade, Business and Asian Engagement of the Northern Territory, told The Asia Business Daily in an interview at the Four Seasons Hotel in Gwanghwamun, Seoul, “The primary reason the Northern Territory is being highlighted is the development of the Beetaloo Basin,” adding, “It is of a scale capable of supporting even Asian demand.”

The Northern Territory is considered a key region in the reorganization of energy supply chains. The Beetaloo sub-basin is estimated by the industry to contain more than 500 trillion cubic feet of gas, with the potential to meet demand for over 200 years. Minister Cahill stated, “The first gas production will begin within a few months, and commercial production is expected around 2029 to 2030,” emphasizing, “Now is the optimal time for investment and cooperation.” Collaboration with Korean companies is also underway.

At the Barossa gas field, in which SK Innovation E&S is participating, the first LNG shipment was exported to Japan in February this year. Cahill described this export as “a highly symbolic event,” and assessed it as “the starting point for cooperation that connects not only gas development but also infrastructure and demand.”

She also emphasized expansion from resource development to energy utilization industries. Minister Cahill explained, “We have all the necessary land, water resources, and stable energy required to operate data centers,” and added, “We will grow into a digital hub through the establishment of fiber-optic networks, among other efforts.”

The low-carbon industry is also a major pillar. She stated, “A variety of industries are possible, including carbon capture and storage, blue hydrogen, and ammonia.” The Middle Arm industrial precinct is equipped with infrastructure capable of storing 50 million tons of carbon dioxide annually.

The competitiveness of critical minerals is also being highlighted. The Northern Territory possesses essential resources for advanced industries such as lithium, cobalt, manganese, and rare earth elements, with mining accounting for 27% of the local economy. Minister Cahill stated, “Once the rare earth project is fully underway, it will play an important role in countering the China-centric structure of global supply chains.”

She said, “Korea is the most natural partner,” and explained, “We can expand the scope of cooperation from energy and resources to infrastructure and industrial complexes.” She added, “We are focused on reducing unnecessary regulations and accelerating business processes during investment and project implementation.”

This content was produced with the assistance of AI translation services.