00:02Territory taxpayers on the hook if fracking goes belly up.
00:07To effectively guarantee $75 million as a backstop if Tamboran's fracking project fails.
00:17This week's NT budget papers for the first time including this liability.
00:22Part of a deal signed last year to secure gas from Tamboran for the NT energy market.
00:29This is unusual and that's why I suspect it's a cosmetic exercise rather than a serious budgetary commitment.
00:39Tamboran Resources saying the guarantee was important to secure a loan
00:44for the construction of a processing facility required to deliver gas from the Beetaloo.
00:50A company spokesperson also saying it's
00:53highly confident there'll be no need for the guarantee because construction of the facility is within forecast cost and budget.
01:02If government intervention as a lender of last resort if you like is required to get this gas project up
01:10they would do it because of the royalty stream it would bring.
01:13Bankrolling a highly risky venture that can't seem to reach financial final investment decision in its own right
01:22is an extraordinary thing to be asked to be doing and it's a very financially irresponsible decision.
01:29Gas set to start flowing from the Beetaloo in the second half of this year.
01:34Without a touchstone...
01:34wichtige civilization...
01:36Our episode is featured are featured in the Philippines of the
Comments